Eli Lilly Earnings: Exceeds Estimates
Eli Lilly & Co. (NYSE:LLY) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.25%.
Eli Lilly & Co. Earnings Cheat Sheet
Results: Net income decreased -3.61% to $827.2 million (85 cents per diluted share) in the quarter versus a net gain of $858.2 million in the year-earlier quarter.
Revenue: Decreased 0.77% to $6 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Eli Lilly & Co. reported adjusted net income of 85 cents per share. By that measure, the company beat the mean analyst estimate of $0.78. It beat the average revenue estimate of $5.81 billion.
Quoting Management: “Lilly delivered solid financial results in the fourth quarter of 2012, as we successfully offset a large part of the revenue decline from the Zyprexa patent expiration with growth in other products such as Cymbalta, Forteo, Alimta, Effient and our animal health portfolio,” said John C. Lechleiter, Ph.D., Lilly’s Chairman, President and CEO…