Gilead Sciences Inc. (GILD) just reported June quarter revenue up 10.2% from last year to $7.8 billion, ahead of estimates. Due to an $11.2 billion one-time write-off of acquired in-process R&D, they reported a $6.75 per share pro forma loss. But that was smaller than the negative $7.25 consensus expectation, notes Michael Murphy, editor of New World Investor.
CEO Daniel O’Day said: “Gilead delivered a very strong second quarter, with 10% year-over-year revenue growth in our base business driven by our HIV portfolio, Trodelvy, and Livdelzi. HIV sales grew 12%, reflecting continued strength in treatment and the rapid expansion of our PrEP business, supporting an increase in our base business revenue expectations for 2026.”
Gilead Sciences Inc. (GILD)
On the conference call, Dan raised the lower end of 2026 revenue guidance from $30 billion-$30.4 billion to $30.1 billion-$30.4 billion. Guidance for the 2026 pro forma per-share loss went from between negative 65 cents and negative $1.05 to between negative 30 cents and negative 65 cents. Excluding acquired in-process R&D and related financing costs, their full year pro forma earnings per share would be $8.50-$8.85.
