Eli Lilly Q2 Revenue Hits $23 Billion, Up 48% YoY — Raises Full-Year Guidance
Eli Lilly's Q2 2026 revenue reached $23 billion, up 48% year-over-year. EPS of $7.94 beat estimates, and the company raised its full-year revenue guidance to $85–87 billion.
- Eli Lilly's Q2 2026 revenue surged 48% YoY to $23 billion, beating market expectations
- The company raised its full-year revenue and profit guidance on strong obesity and diabetes drug demand
Eli Lilly reported Q2 fiscal year 2026 revenue of $23 billion, up 48% year-over-year, according to an SEC Form 8-K filing on August 5 (local time).
📊 Price at Time of Writing (August 5, 2026, 9:08 PM KST)
$1115.68 ▼ -0.51%
Q2 Results at a Glance
This quarter's revenue growth was driven by surging sales of obesity treatment Zepbound and diabetes treatment Mounjaro. Sixty percent of the revenue increase came from higher sales volume, while the average selling price actually fell 13%. Q2 net income came in at $7.1 billion, up 25% year-over-year. Net income included $2.8 billion in acquired in-process research and development (IPR&D) charges tied to four acquisitions, including Orna and Ajax. The same line item was just $154 million a year earlier.
- Revenue: $23 billion, up 48% year-over-year
- Earnings per share (EPS): $7.94, up 26% from $6.29 a year earlier. Adjusted EPS, which excludes one-time charges, came in at $8.38, up 33%
- Net income: $7.1 billion, up 25% year-over-year
Looking Ahead
Lilly raised its full-year 2026 revenue guidance to $85 billion–$87 billion, up from its previous forecast. The company also raised its adjusted EPS guidance to $35.50–$36.50. Lilly CEO David Ricks said, 'We delivered 48% revenue growth and raised our full-year outlook,' adding that 'Lilly's future has never looked brighter as we mark our 150th anniversary.'
Market Reaction
Reuters, Quartz and other outlets said Lilly's results topped market expectations. The company raised its full-year revenue guidance, citing continued strong demand for its obesity and diabetes treatments. Lilly shares were trading at $1,115.68 as of 9:08 p.m. KST, down a modest 0.51% from the previous close.
Revenue by Segment
- U.S. revenue: $14.4 billion, up 33% year-over-year
- Revenue outside the U.S.: $8.6 billion, up 80% year-over-year
- Core product revenue: $15.7 billion, led by growth in Mounjaro and Zepbound
This article was automatically generated based on the original SEC Form 8-K filing and wire reports, with the goal of delivering key data quickly after the announcement. Readers are advised to review the company's official filing before making trading decisions. Quoted prices reflect the time of writing and may differ from current levels.
LLYFrequently Asked Questions
Why did Eli Lilly's Q2 revenue increase so significantly?
Sales of the obesity treatment Zepbound and diabetes treatment Mounjaro rose sharply. Sixty percent of the revenue increase came from higher sales volume, while the average selling price actually fell 13%.
What does 'adjusted EPS' mean?
Adjusted EPS is earnings per share calculated after excluding one-time costs and accounting adjustments. It gives a clearer view of a company's underlying business performance — Lilly reported adjusted EPS of $8.38 for the quarter after excluding M&A-related charges.
How did Lilly's full-year outlook change?
Lilly raised its full-year 2026 revenue guidance to $85 billion–$87 billion and its adjusted EPS guidance to $35.50–$36.50.
How did the IPR&D charge affect earnings?
The acquired in-process research and development (IPR&D) charge is a one-time accounting expense recognized in connection with M&A activity. This quarter's $2.8 billion charge reduced earnings per share by $3.03.
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