Lilly results beat Street outlook

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INDIANAPOLIS (AP) – Eli Lilly and Co. (LLY) on Thursday reported first-quarter profit of $1.46 billion.

The Indianapolis-based company said it had profit of $1.60 per share. Earnings, adjusted for one-time gains and costs, came to $1.75 per share. 

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.55 per share.

The drugmaker posted revenue of $5.86 billion in the period.