Summary by Moomoo AI
Eli Lilly and Co (LLY) reported a significant increase in its financial results for the second quarter of 2024, with revenue surging 36% to $11.3 billion, driven by strong sales of Mounjaro, Zepbound, and Verzenio. The company's earnings per share (EPS) also saw a substantial rise, with reported EPS up 68% to $3.28 and non-GAAP EPS increasing 86% to $3.92. This performance led to an upward revision of the full-year revenue guidance by $3 billion and EPS guidance by $2.05 to $2.60. The quarter also marked progress in the company's pipeline, including the U.S. FDA approval of Kisunla for Alzheimer's disease and Jaypirca in Japan for mantle cell lymphoma. Additionally, the company submitted tirzepatide for obstructive sleep apnea and obesity in the U.S. and EU, and reported positive results from a Phase 3 trial for heart failure with preserved ejection fraction and obesity. Eli Lilly's financial outlook for 2024 has improved, with revenue guidance now ranging from $45.4 to $46.6 billion and EPS guidance between $15.10 to $15.60 on a reported basis, and $16.10 to $16.60 on a non-GAAP basis.
