Earnings Summary: Gilead Sciences reports higher Q2 revenue and profit

Gilead Sciences, Inc. (NASDAQ: GILD), a leading research-based biopharmaceutical company, has reported an increase in revenues and adjusted earnings for the second quarter of 2024.

• Second-quarter revenue increased 5% from last year to $7.0 billion, aided by higher product sales in HIV, Liver Disease, and Oncology
• Earnings, on a per-share basis, were $1.29 in the second quarter, compared to $0.83 in the same period in 2023
• Adjusted earnings per share increased to $2.01 in the June quarter from $1.34 in the prior-year period
• Net income attributable to Gilead advanced to $1.61 billion in Q2 from $1.05 billion in the year-ago quarter
• As of June 30, 2024, the company had $2.8 billion of cash, cash equivalents, and marketable debt securities, vs. $8.4 billion a year earlier
• During the quarter, Gilead generated $1.3 billion in operating cash flow; it paid dividends of $972 million and repurchased $100 million of common stock