Categories AlphaGraphs, Earnings, Health Care

Gilead’s Q2 results beat estimates

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.  

Gilead Sciences beat market estimates for revenue and earnings in Q2 2019

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. 

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

Earnings calendar for the week of March 8

On the heels of lawmakers moving closer to passing the stimulus bill, inflations concerns gripped the market after Federal Reserve chief Jerome Powell at a meeting said the reopening would

Why Costco’s (COST) growth prospects might depend on beating costs, digital lag

Though the retail boom triggered by the pandemic was estimated to be short-lived initially, the shopping spree continued as customers stocked up on essential items, concerned about the persistent market

Gap (GPS) hopes to see a favorable recovery by the second half of 2021

Shares of Gap Inc. (NYSE: GPS) were up 5.8% in afternoon hours on Friday. The stock has gained 103% over the past 12 months. Gap reported mixed results for the

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top