Back to top

Image: Bigstock

Gilead (GILD) Misses Q3 Earnings, Reiterates 2016 Guidance

Read MoreHide Full Article

Gilead Sciences Inc. (GILD - Free Report) just released its third quarter fiscal 2016 financial results, posting earnings of $2.70 and revenues of $7.4 billion. GILD is a Zacks Rank #5 (Strong Sell), and is up 0.24% to $74.25 per share in after-hours trading shortly after its earnings report was released.

Missed earnings estimates. The company reported earnings of $2.70 cents per share, lagging behind the Zacks Consensus Estimate of $2.74 per share. This number excludes 21 cents from non-recurring items.

Beat revenue estimates. The company saw revenue figures of $7.4 billion, surpassing our consensus estimate of $7.387 billion but decreasing 9.5% year-over-year.

Antiviral product sales, which include primarily products in Gilead’s HIV and liver disease areas, were $6.8 billion for the third quarter of 2016 compared to $7.7 billionfor the same period in 2015.

Other product sales, which include Letairis® (ambrisentan), Ranexa® (ranolazine) and AmBisome® (amphotericin B liposome for injection), were $564 million for the third quarter of 2016 compared to $509 million for the same period in 2015.

Gilead reiterated its full year 2016 guidance, with revenues expected to be in the range of $29.5 billion to $30 billion.

Here’s a graph that looks at Gilead’s price, consensus, and EPS surprise:

GILEAD SCIENCES Price, Consensus and EPS Surprise

GILEAD SCIENCES Price, Consensus and EPS Surprise | 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.

Stocks that Aren't in the News…Yet

You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015, with a stellar average gain of +26% per year. See these high-potential stocks now >>

See More Zacks Research for These Tickers

Normally $25 each - click below to receive one report FREE:

Gilead Sciences, Inc. (GILD) - free report >>