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Eli Lilly on Tuesday raised its full-year guidance as second-quarter profit jumped 85% from the same period a year ago on strong sales from the pharmaceutical giant’s drug pipeline.
The company now expects full-year revenue of between $33.4 billion to $33.9 billion, up from a previous forecast of $31.2 billion to $31.7 billion. Eli Lilly also increased its adjusted earnings guidance to a range of $9.70 to $9.90 per share for the year, up from a range of $8.65 to $8.85.
Shares of Eli Lilly jumped 10% in premarket trading Tuesday.
Here’s how Eli Lilly performed, compared with Wall Street expectations, based on a survey of analysts by Refinitiv:
Adjusted earnings: $2.11 per share, vs. $1.98 per share expected
Revenue: $8.31 billion, vs. $7.58 billion expected
The company booked net income of $1.76 billion, or $1.95 per share, for the quarter. That’s up from net income of $952.5 million, or $1.05 per share, for the same period a year ago.
Accounting…
2023-08-08 06:17:53
Link from www.cnbc.com
