Eli Lilly Raises 2015 Forecast After Earnings Beat

By Sara SjolinMarketWatch Pulse

Drug maker Eli Lilly & Co. on Thursday raised its full-year earnings guidance after posting better-than-expected results for the third quarter. The company said profit in the three months to Sept. 30 rose 60% to $799.7 million, or 75 cents a share, up from $500.6 million, or 47 cents a share, in the year-ago period. Adjusted profit rose 22% to 89 cents a share, beating a FactSet estimate of 76 cents a share. Revenue inched 2% higher to $4.96 billion, slightly below forecasts. The company raised its 2015 per-share earnings outlook to $2.40 to $2.45 from the previous forecast of $2.20 to $2.30. Shares rose 1.6% ahead of the bell.

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