Lilly 2Q profit falls 39 percent

(WISH Photo/Brett Bensley)
(WISH Photo/Brett Bensley)

INDIANAPOLIS (AP) — Eli Lilly and Co. (LLY) on Thursday reported profit that declined by 39 percent in its second quarter, and beat analysts’ expectations.

The Indianapolis-based company said earnings declined to $733.5 million, or 68 cents per share, from $1.21 billion, or $1.11 per share, in the same quarter a year earlier. The average per-share estimate of analysts surveyed by Zacks Investment Research was for earnings of 66 cents.

The drugmaker said revenue dropped 17 percent to $4.94 billion from $5.93 billion in the same quarter a year earlier, and topped Wall Street forecasts. Analysts expected $4.83 billion, according to Zacks.

Eli Lilly shares have risen $13.25, or 26 percent, to $64.25 since the beginning of the year, while the Standard & Poor’s 500 index has climbed 7.5 percent. The stock has increased $11.70, or 22 percent, in the last 12 months. provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others and keep the conversation on topic and civil. If you see an inappropriate comment, please flag it for our moderators to review.

blog comments powered by Disqus