Gilead Sciences Reports Q1 Earnings Beat, Provides Guidance

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Gilead Sciences Reports Q1 Earnings Beat, Provides Guidance

Gilead Sciences (NASDAQ: GILD ) reported its Q1 results, with EPS of $2.12 coming in better than the consensus estimate of $1.81. Revenue grew 3% year-over-year to $6.6 billion, compared to the consensus estimate of $6.28 billion.

Biktarvy sales rose 18% to $2.2 billion, Descovy sales rose 4%, and Truvada sales declined 72% year-over-year in Q1.

The company expects Q2/22 EPS in the range of $6.20-$6.70, compared to the consensus of $6.50, and revenue in the range of $23.8-24.3 billion, compared to the consensus of $24.48 billion. The company sees product sales between $23.8 billion and $24.3 billion, which includes $2 billion in Veklury sales.

Shares of Gilead were down 15% year-to-date going into the earnings results.

By Davit Kirakosyan

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