Reported 27 days ago
Eli Lilly's stock fell over 6% after the company reported third-quarter earnings that missed Wall Street's revenue expectations, with revenues of $11.4 billion instead of the anticipated $12.17 billion. Despite a 20% year-over-year increase, the firm also lowered its profit guidance and reported earnings per share of $1.18, significantly below expectations of $1.51. Sales of its weight-loss drug Zepbound and diabetes drug Mounjaro were affected by inventory issues, although the company remains optimistic about growth driven by its GLP-1 drug portfolio.
Source: YAHOO