Movement Alert｜Gilead Sciences Overnight Rise 3.07%, Q3 results beat expectations and full-year product sales guidance was raised

Market Focus08:20

On October 30, Gilead Sciences rose 3.07% Overnight, trading at $170.7/share, with Turnover of $31,800.

The move followed newly released quarterly results showing stronger-than-expected third-quarter earnings and revenue, alongside a higher full-year product sales outlook.

Gilead Sciences reported adjusted EPS of $2.55 for the third quarter on revenue of $8.30 billion, above market expectations of $2.19 and $7.81 billion. The company also raised its full-year product sales guidance to $31.0 billion-$31.3 billion from $30.1 billion-$30.4 billion. Offsetting part of the positive read-through, it updated full-year adjusted loss per share guidance to a loss of $1.20-$0.85, weaker than the prior loss outlook and below the consensus expectation for a $0.40 loss. Additional details indicated continued strength in HIV and oncology, while cell therapy sales declined and COVID treatment sales weakened.

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