Gilead Sciences Inc. (NYSE: GILD) beat market estimates for revenue and earnings in the second quarter of 2019. Shares were down 0.21% in aftermarket hours on Tuesday.
Total revenues inched up by 1.7% to $5.7 billion from the year-ago quarter, beating estimates of $5.5 billion.
GAAP net income was $1.9 billion, or $1.47 per share, compared to $1.8 billion, or $1.39 per share, in the prior-year quarter. Adjusted net income totaled $2.3 billion, or $1.82 per share, topping forecasts of $1.72 per share.
Total product sales were $5.6 billion in the second quarter compared to $5.5 billion last year. HIV product sales increased 8% year-over-year to $4 billion, helped by higher sales volume and the continued uptake of Biktarvy.
HCV product sales dropped to $842 million from $1 billion last year, due to competitive dynamics such as US Medicare price declines and lower patient starts. Other product sales fell 25% to $604 million, mainly due to declines in Ranexa and Letairis sales.
R&D expenses decreased slightly to $1.16 billion from $1.19 billion last year, mainly due to the 2018 impacts from the company’s purchase of a US FDA Priority Review Voucher and stock-based compensation expense.
Based on favorable demand trends seen in the first half of 2019, Gilead raised its full year 2019 guidance. The company now expects net product sales of $21.6 billion to $22.1 billion versus the previous range of $21.3 billion to $21.8 billion.
Gilead declared a dividend of $0.63 per share of common stock for the third quarter of 2019, payable on September 27, 2019, to stockholders of record on September 13, 2019.
Production disruption and logistics issues continue to have a crippling effect on the industrial sector but the performance of companies, in general, has been mixed so far. Fastenal Company (NASDAQ:
Netflix, Inc. (NASDAQ: NFLX) Thursday said it added 8.3 million paid members in the December quarter. Revenues increased and matched estimates, aided by the relaxation of COVID restrictions and resumption
Investment management firm Charles Schwab Corporation (NYSE: SCHW) has stayed largely unaffected by the coronavirus crisis, rather it managed to tap into new opportunities. The company owes its impressive financial