Q2 25 EPS
$6.31
BEAT +12.89%
Est. $5.59
Q2 25 Revenue
$15.56B
BEAT +6.06%
Est. $14.67B
vs S&P Since Q2 25
+37.7%
BEATING MARKET
LLY +51.7% vs S&P +14.0%
Market Reaction
Did LLY Beat Earnings? Q2 2025 Results
Eli Lilly delivered a standout second quarter, posting non-GAAP earnings of $6.31 per share and revenue of $15.56 billion, beating Wall Street's consensus EPS estimate of $5.59 by 12.89% and topping revenue expectations of $14.67 billion by 6.06%, as… Read more Eli Lilly delivered a standout second quarter, posting non-GAAP earnings of $6.31 per share and revenue of $15.56 billion, beating Wall Street's consensus EPS estimate of $5.59 by 12.89% and topping revenue expectations of $14.67 billion by 6.06%, as sales grew 37.6% year over year. The primary engine behind those results was explosive demand across Lilly's cardiometabolic portfolio, where Zepbound's U.S. Revenue rocketed 172% to $3.38 billion and Mounjaro climbed 68% globally to $5.20 billion, with international Mounjaro revenue nearly tripling as the drug expanded into new markets. Gross margin widened 3.5 percentage points to 84.3%, reflecting improved production costs and favorable product mix. The strong quarter gave management confidence to raise full-year 2025 revenue guidance to a range of $60.00 billion to $62.00 billion, with non-GAAP EPS guidance lifted to $21.75 to $23.00, signals that insider confidence in the company's trajectory, noted in recent market commentary, appears well-founded heading into the second half.
Key Takeaways
- • 42% volume growth drove overall revenue increase of 38%
- • Zepbound U.S. revenue surged 172% on increased demand
- • Mounjaro international revenue nearly tripled driven by entry into new markets
- • Gross margin percent expanded 3.5 percentage points to 84.3% from improved production costs and favorable product mix
- • No asset impairment or restructuring charges in Q2 2025 versus $435M litigation charge in Q2 2024
LLY YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
LLY Revenue by Segment
With YoY comparisons, source: SEC Filings
LLY Revenue by Geography
With YoY comparisons, source: SEC Filings
“Lilly delivered another quarter of strong performance, achieving 38% year-over-year revenue growth driven by robust sales of Zepbound and Mounjaro and sustained momentum across our key medicines. Our pipeline continued to advance, highlighted by positive study results in oncology and cardiometabolic health—including Mounjaro's demonstrated cardio-protective effects in patients with type 2 diabetes and heart disease and strong data for our oral incretin, orforglipron, in obesity. We also expanded manufacturing capacity to meet increasing demand and invested in key R&D initiatives to support our long-term growth.”
— David A. Ricks, Q2 2025 Earnings Press Release
LLY Earnings Trends
LLY vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
LLY EPS Trend
Earnings per share: estimate vs actual
LLY Revenue Trend
Quarterly revenue: estimate vs actual
LLY Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $8.55 | — | $19.80B | +11.25% |
| Q4 25 BEAT FY | $7.17 | $7.54 | +5.16% | $19.29B | +7.33% |
| FY Full Year | $23.62 | $24.21 | +2.48% | $65.18B | +2.06% |
| Q3 25 BEAT | $5.89 | $7.02 | +19.15% | $17.60B | +9.53% |
| Q2 25 BEAT | $5.59 | $6.31 | +12.89% | $15.56B | +6.06% |
| Q1 25 MISS | $3.46 | $3.34 | -3.39% | $12.73B | +0.05% |