The results come as Eli Lilly works to maintain its edge over Novo Nordisk in the booming market for a class of obesity and diabetes drugs called GLP-1s.

Lilly now says it expects non-GAAP earnings from $23 to $23.70 a share this year, up from $21.75 to $23. The new guidance is well above the current analyst consensus estimate of $22.48, and suggests Wall Street’s fourth quarter expectations may be too low.

Record performance of its GLP-1 drugs sent shares in Eli Lilly soaring almost 4% after its earnings call on Thursday.

Eli Lilly reported strong earnings and raised guidance. Read more on what could be next for this biotech giant.

U.S. sales of Lilly’s weight-loss treatment Zepbound nearly tripled, to $3.57 billion, in the third quarter. Meanwhile, revenue from the diabetes drug Mounjaro, which has been on the market longer, has doubled, to $6.52 billion, thanks to growth outside the U.S.

Eli Lilly stock (NYSE: LLY) is up 7% in a month, warranting investor attention following a key corporate development. Eli Lilly recently announced a significant partnership with Walmart to sell its popular weight-loss drug, Zepbound, at a discounted retail price through Walmart pharmacies.

Eli Lilly remains a top GARP opportunity, with Q3 results reinforcing its robust business growth and dominance in incretin analogs. Learn more about LLY stock here.

The Big Pharma mainstay blew away EPS and revenue expectations when it reported Q3 financials, with management raising full-year guidance.

Eli Lilly shares rise as Q3 revenue jumps 54% to $17.6 billion, earnings top estimates, and analysts lift price targets on strong obesity drug momentum.

Before being discontinued, the P2X7 receptor blocker had cleared a master protocol study in chronic pain, though Eli Lilly said that results were not sufficient for advancement of the Asahi Kasei–partnered asset.