Biopharmaceutical company Gilead Sciences Inc (NASDAQ: GILD) Wednesday said its third-quarter earnings increased, aided by higher revenues. The results also exceeded the market’s prediction.
Adjusted earnings increased 29% to $2.11 per share from $1.64 per share a year earlier. Analysts were looking for a smaller bottom-line number.
Net income, on an unadjusted basis, came in at $360 million or $0.29 per share, compared to a loss of $1.17 billion or $0.92 per share in the prior-year period.
Read management/analysts’ comments on Gilead Sciences Q3 earnings
Revenues moved up 17% year-over-year to $6.58 billion in the September-quarter and exceeded the market’s prediction. The company’s stock closed Wednesday’s regular trading lower, hut gained during the after-hours session.