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INDIANAPOLIS (AP) — Eli Lilly and Co. (LLY) on Tuesday reported first-quarter net income of $1.22 billion, after reporting a loss in the same period a year earlier.

On a per-share basis, the Indianapolis-based company said it had profit of $1.16. Earnings, adjusted for asset impairment costs, came to $1.34 per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.

The drugmaker posted revenue of $5.7 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $5.53 billion.

Lilly expects full-year earnings in the range of $5.10 to $5.20 per share, with revenue in the range of $23.7 billion to $24.2 billion.

Lilly shares have fallen 5 percent since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. The stock has dropped 2 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LLY at https://www.zacks.com/ap/LLY