Shares in Eli Lilly (NYSE:LLY) fell today even though the drugmaker beat expectations on Wall Street with its second quarter results.
The Indianapolis-based company posted profits of $1.01 billion, or 95¢ per share, on sales of $5.82 billion for the 3 months ended June 30, for bottom-line growth of 35% on sales growth of 8% compared with the same period last year.
Adjusted to exclude 1-time items, earnings per share were $1.11, ahead of consensus on The Street, where analysts were looking for sales of $5.59 billion.
“Lilly delivered strong revenue growth in the second quarter, building on the momentum of Trulicity, Taltz and the other new products in our portfolio,” chairman, president & CEO David Ricks said in prepared remarks. “To deliver on our mission and maximize our opportunity, we have four key priorities — launching with excellence, replenishing the pipeline, driving productivity, and building talent and capability in our core areas of focus.”
Lilly said it expects to post adjusted EPS of $4.10 to $4.20 on sales of $22.0 billion to $22.5 billion for the full year.
LLY shares were trading at $81.62 apiece today in afternoon trading, down -3.4%.
