Gilead Sciences Q2 Profit Beats Views, Shares Rise

Loading...
Loading...
Shares of
Gilead Sciences, Inc.
GILD
surged over 2 percent in after-hours trading after the company reported better-than-expected earnings for the second quarter and raised its FY15 sales forecast. The Foster City, California-based company posted quarterly net income of $4.5 billion, or $2.92 per share, up from $3.7 billion, or $2.20 per share, in the year-ago quarter. Excluding items, the company's non-GAAP earnings climbed to $3.15 per share from $2.36 per share. Its total revenue jumped to $8.2 billion from $6.5 billion. However, analysts were expecting earnings of $2.71 per share on revenue of $7.61 billion. Total product sales rose to $8.1 billion for the second quarter, versus $6.4 billion in the year-ago quarter. Product sales in the U.S. gained to $5.6 billion from $4.8 billion, while product sales in Europe rose to $2.0 billion from $1.3 billion. The average estimate among 281 Estimize users was for earnings of $2.78 per share and revenue of $7.55 billion. As of June 30, 2015, the company had $14.7 billion of cash, cash equivalents and marketable securities, versus $14.5 billion as of March 31, 2015. The company's board declared a cash dividend of $0.43 per share of common stock for the third quarter. Gilead now expects FY15 product sales of $29 billion to $30 billion. Gilead Sciences shares gained 2.33 percent to $115.70 in the after-hours trading session.
Loading...
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceprofit
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...