5 Stocks Making Noise After Releasing Their Earnings Reports

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In this article, we discuss the 5 stocks making noise after releasing their earnings reports. If you want to read our detailed analysis of these companies, go directly to the 10 Stocks Making Noise After Releasing Their Earnings Reports.

5. Eli Lilly and Company (NYSE:LLY)

Number of Hedge Fund Holders: 64

Eli Lilly and Company (NYSE:LLY) recently announced mixed financial results for the third quarter. The Indiana-based pharmaceutical giant reported adjusted earnings of $1.94 per share, up from $1.41 per share in the comparable period of 2020.

Revenue for the quarter jumped 18 percent on a year-over-year basis to $6.773 billion. Analysts were expecting Eli Lilly and Company (NYSE:LLY) to report earnings of $1.96 per share on revenue of $6.639 billion.

On the bright side, Eli Lilly and Company (NYSE:LLY) raised its financial outlook for the full year citing higher demand for its products against coronavirus. It now expects adjusted earnings in the range of $7.95 to $8.05 per share versus its previous forecast between $7.80 – $8 per share.

In addition, revenue for 2021 is expected to come between 27.2 – $27.6 billion versus its earlier outlook of $26.8 – $27.4 billion. The updated forecast sent shares of Eli Lilly and Company (NYSE:LLY) up more than one percent on Tuesday, 26 October 2021.

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Speaking on the results, CEO David A. Ricks said:

“Lilly demonstrated strong performance again this quarter. Revenue attributable to our newer medicines grew more than 35 percent and represented nearly 60 percent of our core business, an important indicator of our long-term growth potential.”

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