Eli Lilly and Company (NYSE: LLY) has reported higher earnings and revenues for the first quarter of 2022. The numbers also surpassed the consensus estimates.
The Indianapolis-based pharmaceutical company said its revenues grew15% year-over-year to $7.81 billion in the first quarter as volumes increased by 20%. Experts had predicted a slower revenue growth.
The positive top-line performance translated into a 63% increase in net earnings, on an adjusted basis, to $2.62 per share, which also came in above the market’s projection. Unadjusted profit increased to $1.9 billion or $2.10 per share from $1.36 billion or $1.49 per share in the first quarter of 2021.
“Lilly delivered another quarter of volume-driven revenue growth led by key products and anticipates 2022 to be an exciting year with several potential approvals and new pipeline events. With the depth of our pipeline, and growth of our medicines in the market, we are well-positioned to help address health challenges in areas of significant unmet medical need, such as obesity, Alzheimer’s disease, and cancer,” said David Ricks, CEO of Eli Lilly.
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Cisco Systems Inc. (NASDAQ: CSCO) is the undisputed leader in networking technology, but its core business has been facing challenges over the past few years. While the company faces stiff
Semiconductor technology company Applied Materials, Inc. (NASDAQ: AMAT) on Thursday reported higher earnings and revenues for the second quarter of 2022. However, the results missed analysts' estimates. Adjusted net income
Shares of Target Corporation (NYSE: TGT) were down 4% on Thursday, yet to fully recover from the beating it took a day earlier after delivering mixed results for the first