Gilead Sciences Reports Strong Q3 Results and Raises Full-Year Guidance on Robust Drug Sales

Gelonghui November 7 | Gilead Sciences, Inc. announced its third-quarter results, with revenue of $7.55 billion, a year-on-year increase of 7%. The market expectation was $7 billion. The adjusted earnings per share were $2.02, down from $2.29 in the same period last year but still exceeding the market expectation of $1.55. The company stated that part of the reason for the decline in earnings per share was a provision of $1.75 billion due to the acquisition of Immunomedics in 2020.

Given the strong sales of medicines, the company has raised its full-year guidance. The revenue forecast has been increased from $27.1 billion to $27.5 billion, to $27.8 billion to $28.1 billion. The adjusted earnings per share forecast has been raised from $3.6 to $3.9, to $4.25 to $4.45. Market expectations were $27.72 billion and $3.81, respectively.