Eli Lilly’s Q1 Profit Sinks on Charges; Adjusted Results Beat View (LLY)

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Pharmaceutical giant Eli Lilly & Co. ( LLY ) on Monday said its first quarter profit fell 15% due to several one-time items, but adjusted profit beat analyst expectations.

The Indianapolis-based company reported first quarter net income of $1.06 billion, or 95 cents per share, compared with $1.25 billion, or $1.13 per share, in the year-ago period. Excluding one-time items, adjusted profit was $1.24 per share.

Revenue rose 6% from last year to $5.84 billion.

On average, Wall Street analysts expected a smaller profit of $1.17 per share on lower revenue of $5.71 billion.

Eli Lilly shares were mostly flat in premarket trading Monday.

The Bottom Line
Shares of Eli Lilly ( LLY ) have a 5.44% dividend yield, based on Friday's closing stock price of $36.01. The stock has technical support in the $33-$34 price area. If the shares can firm up, we see overhead resistance around the $38 price level.

Eli Lilly & Co. ( LLY ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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