Market Overview

Gilead Beats Q1 Estimates, Stock Halted Briefly

Related GILD
Gilead Sciences Get European Commission Grant For Marketing Authorization Of Its Single Tablet Regimen Odefsey
As Buybacks Soar, Buyback ETF Tries To Get Its Groove Back
Thanks BREXIT For Cooling Markets Down (Seeking Alpha)

Shares of Gilead Sciences (NASDAQ: GILD) are trading up 3.75 percent to $75.81 in Tuesday's post market session after blowing away analyst first quarter estimates.

The company reported earnings per share of $1.48 versus the $0.92 estimate. Revenue came in at $5 billion, almost a 100 percent increase year over year.

Compared to the first quarter of 2013, U.S. product sales for the first quarter of 2014 increased to $3.63 billion from $1.40 billion and Europe product sales increased to $1.02 billion from $818.3 million.

Non-GAAP research and development (R&D) expenses increased due to the progression of Gilead's clinical studies, particularly in oncology and HIV.

Gilead reiterated full year 2014 guidance.

Posted-In: Earnings News Movers


Related Articles (GILD)

View Comments and Join the Discussion!