LLY - Why Eli Lilly Stock Jumped as Much as 5.1% Today Then Gave Up Its Gains
2024-02-06 11:41:40 ET
Shares of Eli Lilly (NYSE: LLY) jumped as much as 5.1% on Tuesday. However, as of 11:37 a.m. ET, the big pharma stock was down by 0.5%.
The initial spike came after Lilly announced its 2023 fourth-quarter and full-year results. The company reported Q4 revenue of $9.35 billion, up 28% year over year. This result came in well above the average analysts' revenue estimate of $8.93 billion.
Lilly posted Q4 earnings of $2.19 billion, or $2.42 per share, based on generally accepted accounting principles ( GAAP ). Its non-GAAP (adjusted) earnings in the quarter were $2.25 billion, or $2.49 per share. The consensus Wall Street estimate was for non-GAAP earnings of $2.22 per share.
For further details see:
Why Eli Lilly Stock Jumped as Much as 5.1% Today Then Gave Up Its Gains