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eli lilly shares drop after disappointing third quarter earnings report

Eli Lilly's stock plummeted nearly 10% in premarket trading after the company reported Q3 earnings that fell short of Wall Street expectations, with revenue at $11.4 billion against estimates of $12.17 billion. Despite a 20% year-over-year increase, the company cut its profit guidance and revenue outlook, citing inventory decreases impacting sales of its weight-loss drug Zepbound and diabetes drug Mounjaro. The combined sales from these drugs reached $4.4 billion, but Zepbound's revenue missed analyst estimates, raising concerns about the stock's future in a complex healthcare market.
@YahooFinance
United States Dollar Biogen Inc. Eisai Co., Ltd. Eli Lilly and Company USA Leqembi Jared Holz Biogen Show more
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12:18 30.10.2024
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