Novo Nordisk (NVO) stock popped early Thursday after the company reported better-than-expected third-quarter sales and a massive jump in earnings.

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For the September quarter, Novo’s sales climbed 29% to 58.73 billion Danish krone, or roughly $8.39 billion, based on today’s exchange rates. That topped the FactSet-polled analyst view for 57.88 billion Danish krone.

Adjusted profit came out 5.02 Danish krone per share — about 72 cents a share. Earnings grew 57% and topped expectations for 4.70 Danish krone.

Sales of weight-loss blockbuster Wegovy skyrocketed 734% to 9.65 Danish krone, or $1.38 billion. That came in well above expectations for 7.72 billion Danish krone. Revenue from diabetes injection Ozempic — which uses the same active ingredient as Wegovy — brought in 23.91 billion Danish krone, or $3.42 billion. Ozempic sales grew 46%, but lagged views for 24.34 billion Danish krone.

For the year, the drugmaker reiterated its guidance for 32% to 38% sales growth and 40% to 46% growth in operating profit, in constant currency.

In premarket trades on today’s stock market, Novo Nordisk stock jumped 3.6% near 101.20. Shares have a strong IBD Digital Relative Strength Rating of 97 on a 1-99 scale of a stock’s 12-month performance.

More to follow.

Follow Allison Gatlin on X, the platform formerly known as Twitter, at @IBD_AGatlin.

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