Eli Lilly and Co. (NYSE:LLY) announced on Wednesday that its third-quarter earnings for the year fell below analysts' expectations.
The Indianapolis-based pharmaceutical company reported earnings of $970.3 million, translating to a profit of $1.07 per share.
When adjusted for one-time gains and costs, earnings were $1.18 per share.
However, these results did not meet Wall Street predictions.
Analysts, on average, anticipated earnings of $1.52 per share, according to a survey conducted by Zacks Investment Research.
Additionally, Eli Lilly's revenue for the quarter was reported at $11.44 billion, which also did not reach the expected $12.03 billion as forecasted.
Looking forward, Eli Lilly has set its full-year earnings guidance to range between $13.02 to $13.52 per share, with projected revenues falling between $45.4 billion and $46 billion.