Eli Lilly (LLY) shares rose Thursday morning after the drugmaker reported adjusted earnings of $3.92 per share on second-quarter revenue of $11.3 billion.
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Analysts polled by FactSet expected Eli Lilly to earn $2.74 a share on revenue of $9.97 billion. Weight-loss drug Zepbound brought in $1.24 billion, while analysts had expected $927 million. Diabetes drug Mounjaro, which uses the same tirzepatide backbone, generated $3.09 billion, while analysts had expected $2.43 billion.
During the same period last year, Lilly earned $2.11 per share and reported revenue of $8.31 billion.
For the year, Lilly forecast adjusted earnings per share of $16.10-$16.60 on revenue of $45.4 billion-$45.6 billion. The Street had forecast earnings of $13.69 per share and sales of $43.01 billion.
In premarket trading on the stock market today, Eli Lilly shares rose 9%. Shares fell below their 50-day moving average last month amid multiple stumbles for its diabetes and weight-loss products, according to MarketSurge.
More to follow.
Follow Allison Gatlin on X, the platform formerly known as Twitter, at @IBD_AGatlin.
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