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Gilead Sciences Q2: EPS $2.01, Revenue $6.95B, Raises Full-Year Outlook

Aug 12, 2024, 11:02 AM

Gilead Sciences reported its second-quarter 2024 financial results, significantly surpassing Wall Street estimates. The company achieved a revenue of $6.95 billion, exceeding the estimated $6.72 billion, marking a 5% year-over-year increase. The earnings per share (EPS) stood at $2.01, surpassing the forecasted $1.60, reflecting a 50% year-over-year growth. This performance was driven by higher product sales, particularly in HIV, liver disease, and oncology segments. Biktarvy sales reached $3.23 billion, while Veklury sales were $214 million. Additionally, Gilead raised its full-year earnings outlook, projecting adjusted EPS between $3.60 and $3.90, compared to the previous range of $3.45 to $3.85. The company's market capitalization is reported at $94 billion.