Eli Lilly (LLY) Q3 2025 earnings

Eli Lilly On Thursday, it reported third-quarter earnings and revenue that beat estimates and raised its full-year outlook, as the company continued to see strong demand for blockbuster weight loss drug Zepbound and diabetes treatment Mounjaro.

The company’s shares rose 5% in pre-market trading Thursday.

The pharmaceutical giant now expects its fiscal 2025 revenue to be between $63 billion and $63.5 billion, up from previous guidance of $60 billion to $62 billion. Eli Lilly also expects full-year adjusted earnings to be between $23 and $23.70 per share, up from its previous forecast of $21.75 to $23 per share.

Eli Lilly said the guidance reflects President Donald Trump’s current tariffs as of Thursday, but does not include the duties he threatened on drugs imported into the United States.

Mounjaro generated revenue of $6.52 billion for the quarter, up 109% from the same period last year. That exceeded the $5.51 billion analysts had expected, according to StreetAccount.

Zepbound, which has been in the market for about two years, had revenue of $3.57 billion for the third quarter. That represents an increase of 184% from the same period a year earlier, and slightly more than the $3.5 billion Wall Street was expecting, according to StreetAccount estimates.

Here’s what Eli Lilly reported for the third quarter compared to what Wall Street was expecting, based on a survey of analysts conducted by LSEG:

• EPS: $7.02 was revised from $5.69 expected
• profit: $17.60 billion versus $16.01 billion expected

The results are coming as well Eli Lilly It works to maintain its advantage over its main competitor Novo Nordisk In the booming market for a class of obesity and diabetes drugs called GLP-1s.

The company reported third-quarter revenue of $17.60 billion, up 54% from the same period last year.

Sales in the United States jumped 45% to $11.30 billion. Eli Lilly said this was driven by a 60% increase in volume – or the number of prescriptions or units sold – for its products, particularly for Mounjaro and Zepbound. This was partially offset by lower prices achieved for the drugs, the company said.

The pharmaceutical giant had net income of $5.58 billion, or $6.21 per share, in the third quarter. This compares to net income of $970.3 million, or $1.07 per share, the previous year.

Excluding one-time items related to the value of intangible assets and other adjustments, Eli Lilly reported earnings of $7.02 per share during the second quarter.

The results underscore Eli Lilly’s strong advantage in the booming GLP-1 drug market.

The company has gained majority market share over the past year, thanks to a strong appearance for its weight-loss and diabetes injections and a boost in its direct-to-consumer sales, among other efforts. Eli Lilly took another step to boost access to Zepbound on Wednesday, in partnership with Walmart To offer cash-paying patients the ability to pick up discounted medication vials in-store.

The company is now betting on its closely watched experimental obesity pill, orfroglibron, to establish its dominance in the space, especially as Novo Nordisk and other drugmakers race to bring their own pills or next-generation injections to the market.

Novo Nordisk on Thursday launched a rival bid to buy US obesity biotech company Metsera, snatching up a bid from Pfizer as it races to catch up with Eli Lilly.

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