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Lilly quarterly sales soundly beat forecasts
January 30, 2014 / 11:46 AM / 4 years ago

Lilly quarterly sales soundly beat forecasts

Jan 30 (Reuters) - Eli Lilly and Co reported quarterly revenue well above Wall Street expectations, although overall revenue declined due to generic competition for the company’s Cymbalta depression treatment.

The U.S. drugmaker on Thursday said it had earned $728 million, or 67 cents per share, in the fourth quarter. That compared with $827 million, or 74 cents per share, in the year-earlier quarter, when Lilly took charges for asset impairments and restructuring.

Excluding special items, Lilly earned 74 cents per share, matching the analysts’ average forecast, according to Thomson Reuters I/B/E/S.

Global sales fell 2 percent to $5.81 billion, but topped Wall Street forecasts of $5.46 billion.

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