Gilead profit beats Street expectations on COVID and HIV sales
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Gilead Sciences shares gain after topping expectations despite lower remdesivir sales
February 3, 2023 9:46 AM ESTGilead Sciences (NASDAQ: GILD) shares rallied in early Friday trading in reaction to the company's latest earnings report, which saw it beat top and bottom-line consensus expectations.
The biopharmaceutical company posted fourth-quarter earnings of $1.67 per share, $0.17 above the analyst consensus estimate of $1.50, while revenue for the quarter came in at $7.4 billion, beating expectations of $6.66 billion.
The company's revenue increased year-over-year, primarily due to increased sales in Oncology, HIV, and hepatitis C virus. However, this was partially offset by... More
