Company news: Eli Lilly’s (LLY) quarterly results solidly beat analysts’ forecasts

Eli Lilly (LLY) reported Q2 FY2024 earnings of $3.92 per share (versus $2.11 per share in Q2 FY2023), strongly beating analysts’ consensus estimate of $2.73 per share.

The company’s quarterly revenues amounted to $11.303 bln (+36.0% y/y), strongly beating analysts’ consensus estimate of $9.957 bln.

The company also raised guidance for FY2024, seeing EPS of $16.10-$16.60 versus its prior guidance of $13.50-$14.00 and analysts’ consensus estimate of $13.68 and revenues of $45.4-$46.6 bln versus its prior guidance of $42.4-$43.6 bln and analysts’ consensus estimate of $42.93 bln.

LLY rose to $852.40 (+10.39%) in pre-market trading.