Why Eli Lilly Stock Is Sinking Today

The big pharmaceutical company provided a disappointing Q3 update.Shares of Eli Lilly (LLY -6.45%) were sinking 6.3% lower as of 11:11 a.m. ET on Wednesday. The sharp decline came after the big drugmaker announced its third-quarter results before the market opened. Lilly reported Q3 revenue of $11.4 billion, up 20% year over year. However, the consensus projection among analysts surveyed by LSEG was for revenue of $12.1 billion.The company posted net income of $970.3 million, or $1.07 per share, based on ge ...