Eli Lilly LLY reported quarterly earnings of $1.50 per share, which beat the analyst consensus estimate of $1.45 by 3.45%. This is unchanged from the same period last year.
The company reported quarterly sales of $5.637 billion, which beat the analyst consensus estimate of $5.59 billion by 0.84%. This is a 11.30% decrease over sales of $6.355 billion the same period last year.
"Lilly's portfolio of newer medicines reached more patients in the second quarter, allowing the company to grow revenue despite headwinds, including the expiration of the U.S. patent for Cialis," said CEO David Ricks. "We are continuing to make significant investments in our business to ensure the success of our recent product launches. At the same time, we are expanding investment in our pipeline in order to develop new medicines that have the potential to more effectively treat patients that have diabetes, cancer, autoimmune disorders and other serious conditions."
Eli Lilly shares were trading up1.1% at $109.93 in Tuesday’s pre-markets session. The stock has a 52-week high of $132.13 and a 52-week low of $95.02.
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