7-25-12-Eli Lily (NYSE:LLY) had a pretty good second quarter. The company posted its second quarter earnings this morning, with an EPS of $0.83 on revenue of $5.6 billion which were both above expectations. And even though revenue fell 10% for the quarter, the company boosted its guidance range to $3.30 - $3.40 on revenue of $21.8 - $22.8 billion.
The company said this is due to strong sales of many of its popular drugs. The only outlier in the quarter was Zyprexa. It lost its patent exclusivity in October, causing sales to drop 73%. But, investors were expecting this kind of drop, making Eli Lily poised to gain in today's session. For more coverage and analysis of the business world follow us on twitter @FNNOnline.