INDIANAPOLIS (AP) — INDIANAPOLIS (AP) — Eli Lilly and Co. (LLY) on Thursday reported first-quarter profit of $1.34 billion.
The Indianapolis-based company said it had profit of $1.49 per share. Earnings, adjusted for non-recurring costs, came to $1.62 per share.
The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.73 per share.
The drugmaker posted revenue of $6.96 billion in the period, which topped Street forecasts. Five analysts surveyed by Zacks expected $6.81 billion.
Lilly expects full-year earnings in the range of $8.65 to $8.85 per share, with revenue in the range of $31.2 billion to $31.7 billion.
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