Fourth-quarter earnings, excluding one-off items, declined to $1.86 per share from $1.90 per share in the same period of 2024, hurt mainly by higher acquired IPR&D expenses, partially offset by higher product sales and lower SG&A expenses. Meanwhile, unadjusted earnings increased to $1.74 per share in Q4 from $1.42 per share in the year-ago quarter.
The company reported revenues of $7.9 billion for the December quarter, up 5% from the corresponding quarter last year. The top line benefited from higher sales of HIV and Liver Disease products, which were partially offset by lower sales of Veklury.
During the quarter, the company paid dividends of $1.0 billion and repurchased $230 million of its common stock. For fiscal 2026, management expects total product sales to be in the range of $29.6 billion to $30.0 billion, and adjusted earnings per share to be between $8.45 and $8.85.
Daniel O’Day, Gilead’s CEO, said, “In 2026, our potential new launches include two cancer therapies and an additional HIV treatment option, and we look forward to building on the launches of Yeztugo and Livdelzi for liver disease. As we continue to increase our positive impact on healthcare, Gilead is well-positioned for continued growth in 2026 and beyond.”