Gilead: 2Q Earnings Snapshot
FOSTER CITY, Calif. (AP) _ Gilead Sciences Inc. (GILD) on Tuesday reported second-quarter earnings of $1.88 billion.
The Foster City, California-based company said it had profit of $1.47 per share. Earnings, adjusted for costs related to mergers and acquisitions and stock option expense, were $1.82 per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.74 per share.
The HIV and hepatitis C drugmaker posted revenue of $5.69 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $5.56 billion.
Gilead expects full-year earnings in the range of $3.90 to $4 per share.
Gilead shares have climbed nearly 7% since the beginning of the year, while the Standard & Poor’s 500 index has increased 20%. In the final minutes of trading on Tuesday, shares hit $66.85, a decrease of 12% in the last 12 months.