Investing.com -- Eli Lilly and Company (NYSE: LLY) reported first-quarter results that exceeded analyst expectations and raised its full-year outlook, sending shares up over 5% premarket following the announcement.

The pharmaceutical company posted adjusted earnings per share of $8.55, beating the analyst consensus of $6.97 by $1.58. Revenue reached $19.8 billion, surpassing the $17.6 billion estimate and marking a 56% increase from $12.7 billion in the same quarter last year.

The revenue growth was primarily driven by a 65% increase in volume, partially offset by a 13% decrease due to lower realized prices from Mounjaro and Zepbound.

Lilly raised its full-year 2026 revenue guidance to a range of $82.0 billion to $85.0 billion, up from its prior range of $80.0 billion to $83.0 billion. The midpoint of $83.5 billion exceeds the analyst consensus of $81.67 billion. The company also increased its adjusted EPS guidance to $35.50 to $37.00 from $33.50 to $35.00, with the midpoint of $36.25 above the consensus estimate of $34.53.

"2026 is off to a strong start, we delivered 56% revenue growth in the first quarter and raised our full-year revenue guidance by $2 billion," said David A. Ricks, Lilly chair and CEO. "A key milestone was the U.S. FDA approval of Foundayo—the only approved GLP-1 pill that can be taken any time of day, without food and water restrictions."

Mounjaro revenue surged 125% to $8.7 billion, while Zepbound revenue increased 80% to $4.2 billion. U.S. revenue rose 43% to $12.1 billion, and revenue outside the U.S. jumped 81% to $7.7 billion.

Gross margin as a percentage of revenue was 82.6% on an adjusted basis, down 0.9 percentage points from the prior year, primarily due to lower realized prices.