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Gilead Sciences Q4 earnings fall short of estimates

Investing.com -- Gilead Sciences reported Tuesday fourth-quarter earnings that missed analyst estimates as sales of its HIV treatment rose less than expected. 

Gilead Sciences Inc (NASDAQ:GILD) fell more than 2% in afterhours trading following the results.

The California-based company reported adjusted earnings per share of $1.72 on revenue of $7.1 billion, compared with estimates of $1.76 on revenue of $7.1B.

Sales of Gilead's HIV treatment Biktarvy, which drives a significant portion of product sales, rose 6.5% to $3.11B, slightly missing estimates of $3.21. 

Looking ahead to 2024, the company said it expects adjusted diluted earnings of between $6.85 and $7.25 per share on revenue of $27.1B and $27.5B, compared with forecasts of $7.19 a share on revenue of $27.63B.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.