Gilead set to continue revenue beat streak with Q1 results
Justin Sullivan

Gilead Sciences (NASDAQ:GILD) is scheduled to announce Q1 2023 financial results on Thursday, April 27, after market close.
The consensus EPS estimate is $1.54 and the consensus revenue estimate is $6.33B.
Over the last two years, Gilead (GILD) has had five EPS beats and eight revenue beats.
Over the last three months, annual EPS estimates have seen 18 upward revisions and seven downward ones. Revenue estimates have seen 21 upward revisions and three downward ones.
In Q4 2022, Gilead (GILD) beat on the top and bottom lines. Net income rose significantly in the period thanks in large part to a major reduction in cost of goods sold.
Q1 2022 results were a disappointment due to impairment charges relating to oncology drug Trodelvy (sacituzumab). However, Investing Groups Leader Edmund Ingham said he is expecting better results for Q1 2023 due to sales of HIV drugs Biktarvy and Sunlenca.
However, "Gilead (GILD) is not forecasting top line revenue growth this year and I'd be surprised if Q1'23 earnings drove upside," Ingham wrote in an earnings preview on Tuesday.
While he has a long-term price target of $110, he expects the stock to trade around $85 post earnings.
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