Gilead Beats Q1 Estimates, Stock Halted Briefly
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.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.