Eli Lilly 3rd-qrt EPS misses analysts' expectations

US pharma major Eli Lilly (NYSE: LLY) today reported third-quarter 2021 financial results that did not live up to all analysts’ earnings hopes, despite better-than-expected top-line growth, sending the firm’s shares down 1.9% to $240.31 in early trading.

Worldwide revenue for the quarter was $6.773 billion, an increase of 18% compared with the third quarter of 2020, driven by a 17% increase in volume and a 1% increase due to the favorable impact of foreign exchange rates, with net realized prices remaining essentially flat. However, this was above the $6.64 expectations of analysts.

On a non-generally accounting principles (GAAP) basis, net income increased 37% to $1.764 billion, while earnings per share increased 38% to $1.94, compared with $1.289 billion and $1.41, respectively, in the third quarter, but with EPS 2 cents below forecasts.