Eli Lilly posts Q3 revenue at $6.77B, up 18% YoY
Eli Lilly and Co. announced on Tuesday that its revenue in the third fiscal quarter rose to stand at $6.77 billion for an annual increase of 18%, beating estimates.
Excluding revenue from COVID-19 therapies, the firm's revenue still increased 11% on an annual level. The company's diluted earnings per share (EPS) decreased 8% over the year to stand at $1.22. Net income also decreased 8% on a yearly basis to sit at $1.11 billion in the third trimester.
"Lilly demonstrated strong performance again this quarter. Revenue attributable to our newer medicines grew more than 35 percent and represented nearly 60 percent of our core business, an important indicator of our long-term growth potential," CEO David Ricks stated.
Eli Lilly stock gained 2.02% premarket after the earnings report.