Reported 28 days ago
Eli Lilly reported third-quarter earnings that did not meet Wall Street expectations, resulting in a significant drop in stock price. The company generated $11.4 billion in revenue, missing estimates of $12.17 billion, while also reducing profit guidance. Despite a strong year-over-year revenue increase of 20%, earnings per share fell short by 20%. However, demand for its weight-loss and diabetes drugs, Zepbound and Mounjaro, remains robust, with plans for increased advertising and expansion. The company's focus on addressing supply issues and expanding into new markets signals cautious optimism for future growth.
Source: YAHOO