Eli Lilly and Co. (NYSE:LLY) announced a robust second-quarter net income of $2.97 billion on Thursday, significantly exceeding Wall Street forecasts.
The Indianapolis-based pharmaceutical giant reported a profit of $3.28 per share, with adjusted earnings rising to $3.92 per share after accounting for one-time gains and costs.
Analysts had projected considerably lower figures, with an average estimate of $2.64 per share based on a survey of nine analysts by Zacks Investment Research.
The company's performance was not just limited to earnings; revenue figures also surpassed expectations, reaching $11.3 billion against predictions of $9.83 billion by seven analysts.
Buoyed by these strong results, Eli Lilly has revised its full-year earnings outlook upwards.
The company now anticipates full-year earnings to be between $16.10 and $16.60 per share, with revenue projections ranging from $45.4 billion to $46.6 billion.
This optimistic forecast underscores Eli Lilly's strong performance trajectory and robust financial health.