Q3 25 EPS
$7.02
BEAT +19.15%
Est. $5.89
Q3 25 Revenue
$17.60B
BEAT +9.53%
Est. $16.07B
vs S&P Since Q3 25
+9.2%
BEATING MARKET
LLY +15.2% vs S&P +6.0%
Market Reaction
Did LLY Beat Earnings? Q3 2025 Results
Eli Lilly delivered a standout third quarter, posting revenue of $17.60 billion, a 53.9% year-over-year jump that cleared the $16.07 billion consensus estimate by 9.53%, as relentless demand for incretin medicines Mounjaro and Zepbound powered the bu… Read more Eli Lilly delivered a standout third quarter, posting revenue of $17.60 billion, a 53.9% year-over-year jump that cleared the $16.07 billion consensus estimate by 9.53%, as relentless demand for incretin medicines Mounjaro and Zepbound powered the bulk of the gain. Non-GAAP EPS of $7.02 topped the $5.89 consensus by 19.15%, a figure made more striking given the year-ago quarter had been weighed down by nearly $2.83 billion in acquired IPR&D charges. Mounjaro revenue more than doubled to $6.52 billion while Zepbound generated $3.59 billion domestically, up 184% year-over-year, together cementing Lilly's dominance in the obesity and diabetes space at a moment when the company is reportedly nearing a $1 trillion market capitalization. Management raised full-year 2025 revenue guidance to $63.00 to $63.50 billion, from a prior range of $60.00 to $62.00 billion, and lifted non-GAAP EPS guidance to $23.00 to $23.70, reflecting confidence in sustained volume-driven growth across its GLP-1 franchise.
Key Takeaways
- • 62% volume increase drove worldwide revenue growth, partially offset by 10% lower realized prices
- • Mounjaro and Zepbound demand drove Key Products revenue to $11.98 billion
- • Favorable product mix improved gross margin percentage by 1.9 percentage points
- • U.S. revenue grew 45% with 60% volume increase offset by 15% price decline
- • International revenue grew 74% driven by 66% volume increase and 6% favorable FX
LLY YoY Financials
Q3 2025 vs Q3 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 strong quarter, with 54% revenue growth year-over-year driven by continued demand for our incretin portfolio. We advanced orforglipron through four additional Phase 3 trials, enabling global obesity submissions by year-end, and we achieved U.S. FDA approval of Inluriyo (imlunestrant)—marking key progress across our pipeline. We continue to increase manufacturing capacity, announcing new facilities in Virginia and Texas and an expansion of our site in Puerto Rico.”
— David A. Ricks, Q3 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% |