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Gilead Sciences Earnings: GILD Stock Dips on Q4 EPS Miss, Revenue Beat


Gilead Sciences earnings (NASDAQ:GILD) were released late in the day on Monday with the company posting a profit that came in below what analysts were calling for, sending GILD stock down after hours. Revenue was better than what Wall Street guided for.

Gilead Sciences EarningsThe Foster City, Calif.-based biotechnology company said that for its fourth quarter of its fiscal 2018, it brought in earnings of $3 million, breaking even on a per-share basis. The figure was a considerable improvement over its net loss of $3.9 billion, or $2.96 per share, during the same period a year ago.

When adjusting to consider one-time items, Gilead Sciences brought in earnings of $1.9 billion, or $1.44 per share, which marked a decline of 17.4% compared to the year-ago quarter’s adjusted earnings of $2.3 billion, or $1.78 per share. The Wall Street consensus estimate was calling for the company to bring in adjusted earnings of $1.70 per share, according to data compiled by FactSet.

The company added that its revenue for the period came in at $5.8 billion, which marked a 1.7% dip from the $5.9 billion it raked in during the year-ago quarter. Wall Street said it projected Gilead Sciences to rake in revenue of $5.5 billion, according to data compiled by FactSet.

GILD stock took a hit of roughly 3.6% after the bell Monday following the company’s quarterly earnings results, which missed the mark. Shares had been trading flat during regular trading hours.

Article printed from InvestorPlace Media, https://investorplace.com/2019/02/gilead-sciences-earnings-gild-stock/.

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