Eli Lilly & Co.'s fourth-quarter 2016 non-GAAP net income was up more than 20% year over year to $1.01 billion, or 95 cents per share.

The S&P Capital IQ normalized EPS consensus estimate for the fourth quarter was 98 cents.

The pharma giant's fourth-quarter 2016 GAAP income was also up: by more than 60% year over year to $771.8 million, or 73 cents per share. The company generated $5.76 billion in revenue during the final months of 2016, an increase of 7% year over year.

For the year, Eli Lilly booked $3.74 billion, or $3.52 per share, in non-GAAP net income, which would compare to $3.66 billion, or $3.43 per share, in 2015.

The S&P Capital IQ normalized EPS consensus estimate for 2016 was $3.55.

Revenues rose 6% year over year to $21.22 billion, while 2016 GAAP income was up 14% to $2.74 billion, or $2.58 per share, when compared to full-year 2015.

The company will target $2.69 to $2.79 in GAAP and $4.05 to $4.15 in non-GAAP EPS during 2017. The S&P Capital IQ normalized EPS consensus estimate for 2017 is $4.09.