Lilly misses profit projects as sales of diabetes drug slow

U.S. and World Business News

En esta imagen de mayo de 2020 distribuida por Eli Lilly, un investigador prueba posibles anticuerpos de COVID-19 en un laboratorio de Indianápolis. (David Morrison/Eli Lilly via AP, Archivo)

INDIANAPOLIS (AP) — Eli Lilly and Co. is reporting third-quarter net income of $1.21 billion.

On a per-share basis, the Indianapolis company said it had profit of $1.33. Earnings, adjusted for asset impairment costs, were $1.54 per share. That’s far short of the per-share earnings of $1.76 that Wall Street was looking for, according to a survey of analysts by Zacks Investment Research.

Revenue was $5.74 billion.

Lilly expects full-year earnings in the range of $7.20 to $7.40 per share, with revenue in the range of $23.7 billion to $24.2 billion.

Lilly shares have risen 8% since the beginning of the year, while the Standard & Poor’s 500 index has increased slightly more than 5%. The stock has risen 32% in the last 12 months.

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A portion of this story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LLY at https://www.zacks.com/ap/LLY

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