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Gilead Sciences (GILD) Stock Slumps on Q1 Earnings, Revenue Miss

Gilead Sciences, Inc. GILD just released its first quarter fiscal 2016 earnings results, posting earnings of $2.98 per share and revenue of $7.8 billion.  

Currently, GILD has a Zacks Rank #2 (Buy), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

Gilead:                                                    

1. Missed earnings estimates. The company posted earnings of $2.98, lagging behind our Zacks Consensus Estimate of $3.03 (this number excludes $0.45 from non-recurring items).

2. Missed revenue estimates. The company saw revenue figures of $7.8 billion, missed our consensus estimate of $8.135 billion.

3. In the U.S., antiviral product sales were $4.0 billion for the first quarter of 2016 compared to $4.9 billion in 2015, primarily due to a decline in sales of Harvoni, partially offset by increases in sales of Sovaldi, Truvada, and Genvoya.

4. Reiterates its full year 2016 guidance, initially provided on February 2, 2016.

5. GILD was down $5.65, or 6.13%, to $91.30 as of 4:25 PM ET in after-hours trading shortly after its earnings report was released.

Here’s a graph that looks at Gilead’s Street EPS and Surprise Percent:

Gilead Sciences, Inc. is an independent biopharmaceutical company that seeks to provide accelerated solutions for patients and the people who care for them. They have a broad-based focus on developing and marketing drugs to treat patients with infectious diseases, including viral infections, fungal infections and bacterial infections, and a specialized focus on cancer. They have expertise in liposomal drug delivery technology, a technology that the company uses to develop drugs that are safer, easier for patients to tolerate and more effective.

Check back later for our full analysis on Gilead’s first quarter earnings report!

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