Publish date:

Eli Lilly Earnings Top Estimates, Sales Up 5%

The health care company reported first-quarter net income of $1.31 billion, or $1.20 a share, topping analysts' estimates of 99 cents a share, as total revenue rose 5% to $5.05 billion.

Updated from 6:56 a.m. EDT

Eli Lilly

(LLY) - Get Eli Lilly and Company (LLY) Report

reported first-quarter net income rose 24% to $1.31 billion, or $1.20 a share, topping analysts' estimates of 99 cents a share as total revenue rose 5% to $5.05 billion.

TheStreet Recommends

In the year-earlier first quarter, the health care company reported earnings of $1.06 billion, or 97 cents a share, on sales of $4.81 billion.

The company reconfirmed its 2009 financial guidance, including earnings guidance of $4 to $4.25 a share. Analysts expect earnings of $4.14 a share.

The drugmaker said its first-quarter profits rose on a boost in sales of the antidepressant Cymbalta and the insulin Humalog as costs fell.

Higher prices for several drugs also helped revenue.

Copyright 2008 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.