Gilead's Second-Quarter Revenue Rises 8%, Exceeding Wall Street Forecasts
Article excerpt
((Automated translation by Reuters using machine learning and generative AI, please refer to the following disclaimer: https://bit.ly/rtrsauto)) * Company posts adjusted loss of $6.75 per share, citing acquisition costs * Revenue rises 10% to $7.8 billion, exceeding forecasts * Yeztugo sales total $232 million for the quarter (Adds details from conference call in paragraphs 4 and 9) by Deena Beasley and Puyaan Singh Gilead Sciences GILD.O announced on Tuesday that its second-quarter product sales rose 8%, driven by double-digit increases in its HIV drugs, but the company posted a quarterly loss due to costs related to a series of acquisitions. The company's overall revenue increased 10% to $7.8 billion, exceeding Wall Street forecasts of $7.4 billion, according to LSEG data. Gilead attributed these results to strong sales of its HIV products, the cancer drug Trodelvy, and the liver disease drug Livdelzi. "HIV product sales grew 12%, reflecting continued strength in the treatment market and the rapid expansion of our pre-exposure prophylaxis (PrEP) business, which confirms our forecasts for core business revenue growth for 2026," said Daniel O'Day, Gilead's CEO, in a statement. Gilead also expects 9% to 10% growth in its annual HIV product sales, compared to a previously forecast 8% increase. However, Johanna Mercier, Chief Commercial and General Affairs Officer, indicated...
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In the second quarter, Gilead reported an adjusted loss per share of $6.75, while Wall Street analysts on average expected a loss of $7.24.
