3rd-qtr results from Eli Lilly miss forecasts
US pharma major Eli Lilly (NYSE: LLY) reported third-quarter 2016 financial results that disappointed Wall Street and saw the company’s share fall 1.5% to $76.40 in pre-market trading, although the stock levelled off to just a 0.26% fall just before close of trading.
Revenues for the three months were up 4.7% to $5.19 billion but fell short of the $5.35 billion expected by four analysts surveyed by Zacks Equity Research, as sales were hit by a disappointing performance of its Humalog insulin and animal health products
Lilly’s earnings were $778 million in the third quarter, down 1.5%. Adjusted results came in at $0.88 per share. On average, analysts expected earnings of $0.96 per share, according to Zacks.
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