Gilead Sciences Q2 Profit Rises, Revises Full-year Guidance - Update

(RTTNews) - (Adds Outlook, Non-GAAP Earnings)

While reporting its results for the second quarter, Gilead Sciences Inc. (GILD) revised its outlook for the full-year 2024.

The company now expects earnings of breakeven per share to $0.30 per share and adjusted earnings of $3.60 to $3.90 per share. Previously, the company expected earnings of $0.10 to $0.50 per share and adjusted earnings of $3.45 to $3.85 per share.

Analysts polled by Thomson Reuters currently expect earnings of $3.75 per share.

Q2 Results:

The company's bottom line totaled $1.614 billion or $1.29 per share. This compares with $1.045 billion, or $0.83 per share, in last year's second quarter.

Adjusted earnings for the quarter were $2.01 per share, compared to $1.34 per share last year. Analysts on average had expected the company to earn $1.60 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.4% to $6.954 billion from $6.599 billion last year.