Eli Lilly and Company announced on Tuesday that its revenue in the first quarter of fiscal 2024 amounted to $8.8 billion, climbing by 26% compared to the same period a year earlier. The company's net income skyrocketed 67% to land at $2.2 billion, while its earnings per share in the reported trimester stood at $2.48, surging by 66%.
"Lilly's first quarter performance reflects solid year-over-year revenue growth with strong sales of Mounjaro and Zepbound," CEO David Ricks commented. "Our progress in addressing some of the world's most significant health care challenges has resulted in increased demand for our medicines. As we continue to make pipeline investments that position us for future growth, we are rapidly expanding manufacturing capacity to make our incretin medicines available to more patients," he added.
Eli Lilly's shares climbed 4.99% in premarket trading following the release of the report.
