Gilead Sciences Updates Full-Year Guidance after Mixed Q2 Results
Foster City, Calif-based biopharmaceutical company, Gilead Sciences, has adjusted its full-year guidance for product sales and earnings following the release of its second-quarter results. While the company reported mixed financials, it remains optimistic about its performance for the rest of the year.
Product Sales Outlook
Gilead Sciences now expects total product sales to range between $26.3 billion and $26.7 billion, surpassing its previous projection of $26 billion to $26.5 billion. This positive adjustment reflects the company’s confidence in its ability to generate substantial revenue going forward.
Earnings Outlook
On the other hand, Gilead has narrowed its earnings outlook. The company now anticipates diluted per-share earnings to fall between $4.50 and $4.85, down from the previous range of $4.75 to $5.15. However, adjusted earnings are expected to range between $6.45 and $6.80 per share, compared to the previous forecast of $6.60 to $7.
Strong Q2 Performance
Gilead Sciences outperformed revenue expectations during the second quarter, highlighting its resilience despite certain challenges. However, adjusted earnings fell short of Wall Street estimates due to a $525 million litigation accrual related to HIV antitrust litigation.
Gilead Sciences remains committed to delivering innovative solutions in the biopharmaceutical sector and is poised for continued success.