Indianapolis, IN based Eli Lilly and Company LLY is a global healthcare company with core products in a number of primary-care pharmaceutical markets. Lilly generates revenues from its pharmaceutical product and animal health segments.The company’s portfolio includes Zyprexa (schizophrenia and bipolar disorder), Gemzar (pancreatic cancer), Evista (osteoporosis), Cymbalta (depression), Cialis (erectile dysfunction), Strattera (attention deficit hyperactivity disorder - ADHD), Erbitux (cancer) and Alimta (chemotherapy). Lilly also has a strong presence in the diabetes market.However, many of the key products in the company’s portfolio are facing generic competition. Nevertheless, products like Trulicity, Cyramza, and Trajenta should help partially offset the impact of genericization. The company also has some new products in its portfolio which should start contributing to revenues.LLY’s earnings track record has been pretty good with the company delivering positive earnings in the last four quarters with an average surprise of 13.63%.Currently, LLY has a Zacks Rank #2 (Buy), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:Earnings Miss: LLY missed on first quarter earnings by a couple of cents. The company reported EPS of 83 cents while our consensus called for EPS of 85 cents.Revenue Miss: Revenues also missed expectations. Lilly posted revenues of $4.865 billion, compared to our consensus estimate of $4.875 billion.Revises 2016 Outlook: LLY now expects revenues of $20.6 - $21.1 billion and earnings of $3.50 - $3.60 per share (old guidance: revenues of $20.2 billion - $20.7 billion and earnings of $3.45 - $3.55 per share). The Zacks Consensus Estimate for earnings and revenues is $3.55 per share and $20.7 billion, respectively.Check back later for our full write up on this LLY earnings report later!Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report LILLY ELI & CO (LLY): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research