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Gilead (GILD) Stock Falls on Sales Miss and Lower 2016 Revenues Guidance
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Gilead Sciences Inc. (GILD - Free Report) just released their second quarter fiscal 2016 earnings results, posting earnings of $3.03 per share and revenue of $7.776 billion.
Currently, GILD has a Zacks Rank #2 (Buy), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.
Gilead:
Beat earnings estimates. The company posted $3.03 per share, surpassing our Zacks Consensus Estimate of $3.02. These EPS numbers exclude $0.45 from nonrecurring items.
Missed revenue estimates. The company saw revenue figures of $7.776 billion, missing our estimate of $7.851 billion.
HCV drugs represent Gilead’s core revenues source, and sales for the segment were $4.0 billion, which represents a 22.5% decline from the same quarter last year.
Lowered sales guidance for 2016, lowering their revenues forecast from $30.5 billion to $30 billion.
GILD was down $2.58, or 2.91%, to $85.97 as of 4:33 PM ET in after hours trading shortly after its earnings report was released.
Here’s a graph that looks at Gilead’s quarterly revenues over the last five years.
Gilead Sciences, Inc. is an independent biopharmaceutical company that seeks to provide accelerated solutions for patients and the people who care for them. They have a broad-based focus on developing and marketing drugs to treat patients with infectious diseases, including viral infections, fungal infections and bacterial infections, and a specialized focus on cancer. They have expertise in liposomal drug delivery technology, a technology that the company uses to develop drugs that are safer, easier for patients to tolerate and more effective.
Check back later for our full analysis onGilead’s secondquarter earnings report!
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Gilead (GILD) Stock Falls on Sales Miss and Lower 2016 Revenues Guidance
Gilead Sciences Inc. (GILD - Free Report) just released their second quarter fiscal 2016 earnings results, posting earnings of $3.03 per share and revenue of $7.776 billion.
Currently, GILD has a Zacks Rank #2 (Buy), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.
Gilead:
Beat earnings estimates. The company posted $3.03 per share, surpassing our Zacks Consensus Estimate of $3.02. These EPS numbers exclude $0.45 from nonrecurring items.
Missed revenue estimates. The company saw revenue figures of $7.776 billion, missing our estimate of $7.851 billion.
HCV drugs represent Gilead’s core revenues source, and sales for the segment were $4.0 billion, which represents a 22.5% decline from the same quarter last year.
Lowered sales guidance for 2016, lowering their revenues forecast from $30.5 billion to $30 billion.
GILD was down $2.58, or 2.91%, to $85.97 as of 4:33 PM ET in after hours trading shortly after its earnings report was released.
Here’s a graph that looks at Gilead’s quarterly revenues over the last five years.
GILEAD SCIENCES Revenue (Quarterly)
GILEAD SCIENCES Revenue (Quarterly) | GILEAD SCIENCES Quote
Gilead Sciences, Inc. is an independent biopharmaceutical company that seeks to provide accelerated solutions for patients and the people who care for them. They have a broad-based focus on developing and marketing drugs to treat patients with infectious diseases, including viral infections, fungal infections and bacterial infections, and a specialized focus on cancer. They have expertise in liposomal drug delivery technology, a technology that the company uses to develop drugs that are safer, easier for patients to tolerate and more effective.
Check back later for our full analysis onGilead’s secondquarter earnings report!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>