LLY stock rises as Eli Lilly's Q3 revenue jumps 39% to $24.4 billion
By Rohit SharmaMarkets Analyst, Peepals Business
Representative image: kravaivan11 / Pixabay
Eli Lilly's Q3 2026 revenue rose 39% to $24.4 billion on Mounjaro and Zepbound, and it raised its 2026 revenue forecast to $91-92 billion on October 29.
What Happened
Shares of Eli Lilly (ticker LLY) rose about 4% in premarket trading on Thursday, October 29, 2026, after the US drugmaker reported that third-quarter revenue jumped 39% to $24.4 billion, driven by its diabetes and weight-loss medicines Mounjaro and Zepbound. The company raised its full-year 2026 revenue forecast to between $91 billion and $92 billion, from $85 billion to $87 billion earlier, its third increase this year. Its forecast for earnings per share came down slightly because of large one-time research charges.
Key Facts
- Q3 2026 revenue: $24.4 billion, up 39% from a year earlier.
- Mounjaro revenue: $10.7 billion, up 65%; Zepbound revenue: $5.35 billion, up 49%, above analysts' expectations of $5.09 billion, as reported.
- About $900 million of the quarter's revenue came from one-time items, including $410 million in milestone payments related to Jardiance and favourable adjustments to rebate estimates.
- Earnings per share: $7.48 on a non-GAAP (adjusted) basis and $7.22 reported, both reduced by $4.57 a share in charges for acquired research and development.
- 2026 revenue guidance raised to $91.0 billion to $92.0 billion, from $85 billion to $87 billion.
- 2026 adjusted EPS guidance lowered to $35.00 to $36.00, from $35.50 to $36.50, because the research charges outweighed the underlying increase.
- The company filed the results with the US Securities and Exchange Commission on a Form 8-K, the report US companies use to announce major events.
- Foundayo, Lilly's oral weight-loss pill, sold $184 million, below estimates of about $231 million, as reported.
Why It Matters
Lilly's growth rests on two injections used for diabetes and weight loss, Mounjaro and Zepbound. Together they brought in about $16 billion in the quarter, roughly two-thirds of the company's revenue, which is why every quarterly result is watched closely by investors worldwide.
This quarter shows both the strength and the risks. Sales of the two main drugs grew far faster than the overall drug market, and the company raised its sales forecast for the third time this year. But almost a billion dollars of the quarter's revenue came from one-time items that will not repeat, and the oral pill Foundayo, seen as the next growth engine, sold less than expected. Investors will want to know whether the pill can catch up as more patients look for an option that does not need injections.
The lower earnings forecast mainly reflects $4.57 a share of charges for buying research projects, including the acquisitions of AtaiBeckley and Curevo, rather than weaker business. Excluding those charges, the underlying outlook improved.
For Indian investors, LLY is among the US shares that can now be bought through Indian trading apps, and the company's results are a guide to the size of the global market for weight-loss medicines. This is not advice to buy or sell; share prices of high-growth drugmakers can swing sharply on a single quarter.
| Eli Lilly Q3 2026 | Figure |
|---|---|
| Revenue | $24.4 billion (+39%) |
| Mounjaro | $10.7 billion (+65%) |
| Zepbound | $5.35 billion (+49%) |
| Non-GAAP EPS | $7.48 |
| 2026 revenue guidance | $91-92 billion (was $85-87 billion) |
Impact
Short-term: The higher sales outlook supported LLY shares before the opening bell, while the weaker-than-expected pill sales and one-time items may temper gains.
Long-term: Lilly's growth depends on keeping demand for tirzepatide high, turning Foundayo into a major product and adding new medicines through its pipeline and acquisitions.
Who is affected: Lilly shareholders, patients using diabetes and weight-loss medicines, rival drugmakers in the obesity market, and investors who track large US healthcare stocks.
Key Takeaway
Eli Lilly's Q3 2026 revenue rose 39% to $24.4 billion on Mounjaro and Zepbound, and it raised its 2026 sales forecast to $91-92 billion, sending LLY stock higher before the market opened.
Questions and Answers
Why did LLY stock rise on October 29, 2026?
Eli Lilly reported Q3 revenue of $24.4 billion, up 39%, beat expectations for Zepbound and raised its full-year revenue forecast to $91-92 billion; shares rose about 4% in premarket trading.
How much did Mounjaro and Zepbound sell in Q3 2026?
Mounjaro brought in $10.7 billion, up 65%, and Zepbound $5.35 billion, up 49%, according to the company.
Why did Lilly cut its earnings per share forecast?
It lowered adjusted EPS guidance to $35.00-36.00 because of $4.57 a share in charges for acquired research, which outweighed the improvement in the underlying business.
What was disappointing in Lilly's results?
Sales of Foundayo, its oral weight-loss pill, were $184 million, below estimates of about $231 million, and about $900 million of revenue came from one-time items.
Disclaimer: Prepared by the Peepals newsroom from publicly available sources with AI assistance. Information is accurate to the best of our knowledge at the time of publication and may change. Images may be representative. Not professional advice. Report an error via our contact page.
By Rohit Sharma, Markets AnalystCovers Markets Watch and more for Peepals Business. All stories by Rohit Sharma
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Rohit Sharma is a pen name of the Peepals Global Editorial Team, which researches, fact-checks and publishes every story. The portrait is an illustration.
