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Why Eli Lilly Stock Is Sinking Today

TheMotleyFool

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Shares of Eli Lilly (NYSE: LLY) were sinking 6.3% lower as of 11:11 a.m. ET on Wednesday. The sharp decline came after the big drugmaker announced its third-quarter results before the market opened.

Lilly reported Q3 revenue of $11.4 billion, up 20% year over year. However, the consensus projection among analysts surveyed by LSEG was for revenue of $12.1 billion.

The company posted net income of $970.3 million, or $1.07 per share, based on generally accepted accounting principles (GAAP). Its non-GAAP earnings per share (EPS) was $1.18, well below the average analyst EPS estimate of $1.47.

Source Fool.com