ReutersUPDATE 1-Drugmaker Lilly's second-quarter profit beats estimates(Adds details) July 25 (Reuters) - U.S. drugmaker Eli Lilly and Co reported a higher-than-expected quarterly profit on Tuesday, helped by strong demand for its new treatments. Lilly has built a robust portfolio of newer drugs, ranging from diabetes treatment Trulicity to psoriasis addiction Taltz, as the drugmaker looks to increase revenue by an average 5 percent every year through 2020. [nPn53N1dLa] Excluding items, Lilly earned $1.11 per share, above the average analyst expectation of $1.05 per share, according to Thomson Reuters I/B/E/S. Lilly said on Tuesday resubmission of the marketing application for the drug, baricitinib, to the FDA will be delayed beyond 2017. Lilly's total revenue rose to $5.82 billion from $5.40 billion.
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Excluding non-recurring items, adjusted EPS was $1.11, beating the FactSet consensus of $1.05. Revenue rose 8% to $5.82 billion, above the FactSet consensus of $5.59 billion, as strong growth in new pharmaceutical products helped offset weakness in animal health. Year to date, Lilly facebook/" target="_blank">shares have rallied 15% while the S&P 500 SPX, +0.31% has gained 10.3%. Lilly's stock was indicated slightly lower in premarket trade, while Incyte's stock tumbled 2.6%. Eli Lilly & Co. LLY, -2.83% reported a second-quarter net profit that rose to $1.01 billion, or 95 cents a share, from $747.7 million, or 71 cents a share, in the same period a year ago.
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India's Bharti Airtel Q1 profit slumps, but beats estimates
Analysts had expected a consolidated profit of 3.35 billion rupees, according to Thomson Reuters data. more-inBharti Airtel Ltd, India's top telecom operator, reported an almost 75 percent drop in quarterly profit as a price war sparked by an upstart carrier weighed on earnings. Reliance Jio, backed by India's richest man Mukesh Ambani, has shaken India's telecoms industry since it was launched a year ago by offering months of free services and sharply discounted plans, battering the fortunes of established rivals such as Bharti Airtel and Idea Cellular. Profit on a consolidated basis, which includes the company's Africa operations and its Indian satellite TV business among others, fell to 3.67 billion rupees ($57.01 million) in the three months to June 30, while revenue fell 14 % to 219.58 billion rupees, Bharti Airtel said in a statement on Tuesday.Excluding non-recurring items, adjusted EPS was $1.11, beating the FactSet consensus of $1.05. Revenue rose 8% to $5.82 billion, above the FactSet consensus of $5.59 billion, as strong growth in new pharmaceutical products helped offset weakness in animal health. Year to date, Lilly facebook/" target="_blank">shares have rallied 15% while the S&P 500 SPX, +0.31% has gained 10.3%. Lilly's stock was indicated slightly lower in premarket trade, while Incyte's stock tumbled 2.6%. Eli Lilly & Co. LLY, -2.83% reported a second-quarter net profit that rose to $1.01 billion, or 95 cents a share, from $747.7 million, or 71 cents a share, in the same period a year ago.
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