Gilead Sciences Q4 earnings fall short of estimates

Investing.com -- Gilead Sciences reported Tuesday fourth-quarter earnings that missed analyst estimates as sales of its HIV treatment rose less than expected.

Gilead Sciences Inc (NASDAQ: GILD) fell more than 2% in afterhours trading following the results.

The California-based company reported adjusted earnings per share of $1.72 on revenue of $7.1 billion, compared with estimates of $1.76 on revenue of $7.1B.

Sales of Gilead's HIV treatment Biktarvy, which drives a significant portion of product sales, rose 6.5% to $3.11B, slightly missing estimates of $3.21.

Looking ahead to 2024, the company said it expects adjusted diluted earnings of between $6.85 and $7.25 per share on revenue of $27.1B and $27.5B, compared with forecasts of $7.19 a share on revenue of $27.63B.

You May Also Be Interested In

• Wells Fargo upgrades S&P 500 Industrials to favorable
• Netflix stock: Deutsche Bank gets bullish as valuation leaves room to run
• UBS Reiterates Buy Rating on Boeing (BA) on Long-Term Earnings Power Despite Pullback