Gilead Sciences Revises 2016 Guidance - Quick Facts

(RTTNews) - Gilead Sciences, Inc. (GILD) announced the company now expects EPS Impact of acquisition-related, up-front collaboration, stock-based compensation and other expenses to be in the range of $1.47 - $1.53 for the full year 2016, up from the previously projected range of $1.10 - $1.16.

For 2016, the company now projects Non-GAAP net product sales in a range of $30.00 - $31.00 billion, down from prior guidance range of $29.50 - $30.50 billion. Analysts polled by Thomson Reuters expect the company to report revenue of $31.05 billion. Analysts' estimates typically exclude special items.

Net income was $3.5 billion or $2.58 per share in second quarter of 2016 compared to $4.5 billion or $2.92 per share in 2015. Non-GAAP net income, which excludes amounts related to acquisition-related, up-front collaboration, stock-based compensation and other expenses, was $4.2 billion or $3.08 per share in 2016 compared to $4.8 billion or $3.15 per share in 2015. On average, 22 analysts polled by Thomson Reuters expected the company to report profit per share of $3.02 for the quarter.

Total revenues were $7.78 billion in 2016 compared to $8.24 billion in 2015. Analysts expected revenue of $7.79 billion, for the quarter. Antiviral product sales, which include products in Gilead's HIV and liver disease areas, were $7.1 billion for the second quarter of 2016 compared to $7.6 billion for the same period in 2015.