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.
The 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.