Gilead Sciences posts better-than-expected Q4 earnings, 2023 profit mid-point guidance above estimates
Gilead Sciences (NASDAQ:GILD): Q4 Non-GAAP EPS of $1.67  beats by $0.16.
Revenue of $7.39B (+2.1% Y/Y)  beats by $760M.
Total product sales excluding Veklury increased 9% Y/Y to $6.3 billion for the fourth quarter, primarily due to increased sales in HIV and Oncology as well as contributions from HCV products.

HIV product sales increased 5% Y/Y to $4.8B for the fourth quarter, reflecting higher demand and favorable pricing dynamics.
Veklury sales decreased 26% to $1.0 billion for the fourth quarter 2022 compared to the same period in 2021, primarily driven by lower rates of COVID-19 related hospitalizations.
2023 Guidance and Outlook
Total product sales between $26.0 billion and $26.5 billion. The total revenue consensus including Royalty, contract and other revenues is $25.67B consensus.
Total product sales, excluding Veklury, between $24.0 billion and $24.5 billion.
Total Veklury sales of approximately $2.0 billion are expected to be highly variable, depending on the frequency and severity of surges, and our guidance will continue to be updated on a quarterly basis as necessary.
Earnings per share between $5.30 and $5.70.
Non-GAAP earnings per share between $6.60 and $7.00 vs $6.71 consensus.
Press Release