Eli Lilly (LLYStocks rose early Thursday after the drug giant reported adjusted earnings of $3.92 per share on revenue of $11.3 billion in the second quarter.
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Analysts polled by FactSet expected Eli Lilly earnings of $2.74 per share on revenue of $9.97 billion. Weight-loss drug Zepbound raised $1.24 billion, compared to analysts’ expectations of $927 million. Diabetes drug Mounjaro, which uses the same tirzepatide backbone, generated $3.09 billion. Analysts expected $2.43 billion.
In the year-ago period, Lilly earned $2.11 per share and reported revenue of $8.31 billion.
For the year, Lilly expected adjusted earnings per share of $16.10-$16.60 on revenue of $45.4 billion-$45.6 billion. The Street forecast earnings of $13.69 per share and revenue of $43.01 billion.
In today’s stock market premarket trading, Eli Lilly stock rose 9%. Shares fell below their 50-day moving average last month amid several stumbles for its diabetes and weight-loss products. Market wave shows.
More to follow.
Follow Allison Gatlin on X, the platform formerly known as Twitter, at @IBD_AGatlin.
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