Lilly's Q3 Earnings Miss, Mounjaro, Zepbound Disappoint, Stock Tanks

Eli Lilly and Company (LLY) reported third-quarter 2024 adjusted earnings per share (“EPS”) of $1.18, which missed the Zacks Consensus Estimate of $1.52 per share. In the year-ago quarter, the company had reported earnings of 10 cents per share.Adjusted earnings included an acquired in-process research and development (IPR&D) charge of $3.08 per share, primarily related to the acquisition of Morphic, which was closed in August.Revenues of $11.44 billion rose 20% year over year. Total revenues, however, miss ...