07:14 AM EDT, 04/30/2024 (MT Newswires) -- Eli Lilly ( LLY ) reported Q1 non-GAAP earnings Tuesday of $2.58 per share, up from $1.62 a year earlier.

Analysts polled by Capital IQ expected $2.49.

Revenue for the quarter ended March 31 was $8.77 billion, up from $6.96 billion a year earlier.

Analysts surveyed by Capital IQ expected $8.93 billion.

The drugmaker said it now expects 2024 non-GAAP EPS of $13.50 to $14, up from its prior guidance of $12.20 to $12.70. Analysts polled by Capital IQ expect $12.46.

Revenue for the year is now expected to be between $42.4 billion and $43.6 billion, up from its previous outlook of $40.4 billion to $41.6 billion. Analysts surveyed by Capital IQ expect $41.36 billion.

The company's shares were up 7.5% in recent Tuesday premarket activity.

Price: 792.65, Change: +55.45, Percent Change: +7.52