Lilly raises the roof with blistering quarter

8 August 2024

US drugmaker Eli Lilly (NYSE: LLY) wowed investors with expectation-busting second-quarter financial results on Thursday, sending its shares spiralling 8% higher by early afternoon trading.

Revenue during the quarter increased by 36% to $11.3 billion, beating analyst estimates by 13%. This remarkable performance was largely driven by GLP-1 drugs Mounjaro (tirzepatide) and Zepbound (tirzepatide), with combined sales of $4.3 billion, compared to Wall Street’s consensus of $3.2 billion.

These sales propelled adjusted earnings per share to $3.92, rocketing 86% and beating consensus of $2.61 by $1.31, or 50%.

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