Eli Lilly and Company announced on Tuesday that its revenue in the third fourth of fiscal 2023 amounted to $9.35 billion and soared 28% year over year, exceeding estimates.
Net income came at $2.1 billion, increasing 13% annually, while earnings per share in the reported trimester clocked at $2.42. The company anticipates 2024 revenue to be in the range of $40.4 billion to $41.6 billion.
"2023 was a year of tremendous achievement for Lilly, which delivered life-changing medicines to more patients than ever before resulting in strong revenue growth," CEO David Ricks commented. "We advanced our pipeline of new medicines for serious diseases and created new partnerships and innovative ways of collaborating to add to that pipeline." The company's shares rose 1.95% in premarket trading following the earnings announcement.
