"Did Not See This Coming"...Eli Lilly Soars 10% as Revenue Jumps 43% [New York Movers]

Pharmaceutical company Eli Lilly posted a gain of more than 10%. This appears to have been driven by strong fourth-quarter results last year and a higher-than-expected guidance for this year.

On the 4th (local time), Eli Lilly closed at 1,107.12 dollars, up 10.33% from the previous trading day. In after-hours trading, the stock is edging slightly lower.

On this day, Eli Lilly released its fourth-quarter results for last year. Revenue came in at 19.292 billion dollars, up 43% from the same period a year earlier, beating Wall Street’s forecast of 17.96 billion dollars. Adjusted earnings per share (EPS) were 7.54 dollars, also exceeding the EPS estimate of 6.67 dollars compiled by LSEG.

In detail, obesity treatments Mounjaro and Zepbound generated sales of 7.4 billion dollars and 4.2 billion dollars, respectively, marking year-on-year increases of 110% and 122%.

The company also provided a revenue outlook for this year of 80 billion to 83 billion dollars, significantly above Wall Street’s estimate of 77.62 billion dollars.