Gilead Sciences, Inc. (GILD) Tops Q1 EPS by 61c, Offers Guidance

Gilead Sciences, Inc. (NASDAQ: GILD) reported Q1 EPS of $1.46, $0.61 better than the analyst estimate of $0.85. Revenue for the quarter came in at $5 billion versus the consensus estimate of $3.8 billion.

Full Year 2014 Guidance

Gilead reiterates its full year 2014 guidance, initially provided on February 4, 2014, which excludes the impact of Sovaldi product sales:

(In millions, except percentages and per share amounts) Provided

February 4, 2014

-- Net Product Sales $11,300 - $11,500
Non-GAAP*
-- Product Gross Margin 75% - 77%
-- R&D $2,200 - $2,300
-- SG&A $2,100 - $2,200
-- Effective Tax Rate 28% - 29%

Diluted EPS Impact of Acquisition-Related, Restructuring and Stock-Based Compensation Expenses $0.63 - $0.66

* Non-GAAP product gross margin, expenses and effective tax rate exclude the impact of acquisition-related, restructuring and stock-based compensation expenses, where applicable.

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