Eli Lilly and Company (NYSE: LLY) reported second quarter 2023 earnings results today.
Revenue increased 28% to $8.3 billion compared to the same period a year ago, fueled by volume-driven growth from Mounjaro, Verzenio, Jardiance and Taltz, as well as the sale of rights for Baqsimi.
Reported net income grew 85% to $1.76 billion, or $1.95 per share, compared to last year. Adjusted EPS rose 69% to $2.11.
Both revenue and earnings beat expectations, sending the stock up by 7% in premarket hours on Tuesday.
The company raised its guidance for the full year of 2023. Revenue is now expected to be $33.4-33.9 billion. Reported EPS is expected to be $9.20-9.40 while adjusted EPS is projected to be $9.70-9.90.
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