On a rough day for big tech, the maker of Mounjaro and Zepbound helped push health care stocks to the front of the market.
Why did Eli Lilly stock rise after earnings?
Eli Lilly (LLY) reported third-quarter revenue of $24.4 billion on Thursday, Oct. 29, 2026, up 39% and well above forecasts of about $22.6 billion. Sales of its diabetes and weight-loss drugs Mounjaro and Zepbound kept surging, and Lilly raised its 2026 revenue outlook. The stock closed up about 6.6%.
Lilly released its third-quarter results at 6:45 a.m. Eastern, before the market opened. The revenue estimate comes from TradingKey. The shares finished the day up 6.63%, according to CappNotes, and 24/7 Wall St. showed a close of $1,374.21. The S&P 500's health care sector rose 2.40% that day, according to CappNotes, even as the Nasdaq fell about 1.4% on worries about big tech's AI spending.
What drove Lilly's growth?
Two drugs did most of the work. Both contain the same active ingredient, tirzepatide. Mounjaro, approved for type 2 diabetes, brought in $10.7 billion, up 65% from a year earlier. Zepbound, approved for weight loss, brought in $5.4 billion, up 49%. Together they made up about two-thirds of Lilly's sales.
Foundayo, Lilly's newer GLP-1 medicine taken as a pill, added $184 million in what Grafa called its first full quarter, below analyst expectations of about $234 million. GLP-1 drugs mimic a gut hormone that helps control blood sugar and appetite.
Lilly is selling far more doses at lower prices. Worldwide volume rose 53%, while realized prices, what Lilly actually collects after discounts and rebates, fell 15%. In the U.S., revenue rose 34% to $15.1 billion.…
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Compound growth estimate
Estimated total
$17,175
Your contributions
$13,000
This is an estimate, not a prediction. Monthly compounding; taxes, fees and inflation are excluded.
This article is for educational purposes only and isn't personalized financial, tax or legal advice. Consider talking with a qualified professional about your situation.
Kiara Miller — Founder & Editor
Kiara Miller is the founder and editor of The Evergreen Edit. He has been doing independent finance research for two decades and reviews every article before it's published.
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