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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

 

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