Eli Lilly (NYSE:LLY) saw its stock rise approximately 2% in pre-market trading Thursday after reporting fourth-quarter and full-year 2024 earnings that largely surpassed Wall Street expectations.
However, the pharmaceutical giant fell short of analyst estimates for sales of its popular GLP-1 drugs.
The company reported a 45% surge in fourth-quarter revenue, reaching $13.5 billion, driven by sales of its GLP-1 medications, Mounjaro (for diabetes) and Zepbound (for weight loss).
Mounjaro sales alone totaled $11.5 billion, a significant 124% increase from 2023, while Zepbound contributed $4.9 billion.
Despite the impressive growth, Mounjaro's sales missed Wall Street projections, though they aligned with the company's revised guidance issued last month.
For the full year, Lilly's revenue reached $45 billion, a 32% increase from the previous year.
Looking ahead, the company has raised its 2025 revenue guidance to between $58 billion and $61 billion, exceeding Wall Street expectations by approximately $1 billion.