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INDIANAPOLIS (AP) — INDIANAPOLIS (AP) — Eli Lilly and Co. (LLY) on Thursday reported first-quarter profit of $2.76 billion.
The Indianapolis-based company said it had net income of $3.06 per share. Earnings, adjusted for one-time gains and costs, came to $3.34 per share.
The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $3.52 per share.
The drugmaker posted revenue of $12.73 billion in the period, which topped Street forecasts. Seven analysts surveyed by Zacks expected $12.62 billion.
Lilly expects full-year earnings in the range of $20.78 to $22.28 per share, with revenue in the range of $58 billion to $61 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LLY at https://www.zacks.com/ap/LLY