Eli Lilly (LLY) came out with quarterly earnings of $3.92 per share, beating the Zacks Consensus Estimate of $2.64 per share. This compares to earnings of $2.11 per share a year ago.
Eli Lilly (LLY) shares surged higher in premarket trading Thursday after the drugmaker's second-quarter earnings came in well above analysts' estimates and it raised its full-year revenue and profit guidance.
Pharma titan Eli Lilly on Thursday reported strong demand for its weight loss and diabetes drugs Zepbound and Mounjaro, smashing analysts' expectations in the face of growing competition in the lucrative weight loss drug market as it struggles to boost supplies and tackle shortages.
Eli Lilly reports Q2 EPS of $3.92, exceeding expectations. Revenue reaches $11.30 billion, driven by strong drug sales.
Eli Lilly reported second-quarter earnings and revenue that blew past expectations and hiked its full-year revenue outlook by $3 billion as sales of its blockbuster diabetes drug Mounjaro and weight loss injection Zepbound spike. The drugmaker now expects full-year adjusted earnings of $16.10 to $16.60, up from a previous guidance of $13.50 to $14 per share.
Shares of Eli Lilly & Co. LLY, -2.65% shot up 8.5% in premarket trading Thursday, after the drug maker reported second-quarter earnings that rose well above forecasts, boosted by strength in its diabetes and obesity treatments, Mounjaro and Zepbound and by higher prices. Net income jumped to $2.97 billion, or $3.28 a share, from $1.76 billion, or $1.95 a share, in the same period a year ago.
Eli Lilly on Thursday raised its annual profit forecast and sales of its popular weight-loss drug Zepbound crossed $1 billion for the first time in a quarter.
A rival pharmaceutical company released promising clinical trial results from a weight-loss treatment. Eli Lilly is one of two companies dominating the obesity drug market right now.
Investors will be looking for updates on Zepbound's rollout, and projections for when supply shortages in the U.S. might end.
Eli Lilly and Co LLY will be reporting its second-quarter earnings on Thursday. Wall Street expects $2.70 in EPS and $9.9 billion in revenues as the company reports before market hours.
Eli Lilly and Company LLY is expected to release earnings results for its second quarter, before the opening bell on Thursday, Aug. 8.
Given their underperformance in 2024, a positive set of quarterly results could easily push both stocks higher.