Gilead Sciences raises full-year 2022 outlook following Q3 beats
Zerbor


Q3 2022 financial results that beat on the top and bottom lines have led Gilead Sciences (NASDAQ:GILD) to boost its full-year 2022 outlook.
Non-GAAP earnings per share is now projected at between $6.95 and $7.15 ($6.52 consensus), while total product sales are expected between $25.9B and $26.2B, compared to $24.5B and $25B before.

In the quarter, net income fell ~31% compared to Q3 2021 to ~$1.8B.
Revenue of ~$7B was a 5% year-over-year decline.
Gilead (GILD) was hit in the quarter by a major decline in its COVID-19 treatment, Veklury (remdesivir). Sales plummeted 52% to $925M.
Gilead ended the quarter with ~$4.7B in cash, an ~8% increase from the year-ago period.
See why Seeking Alpha contributor Oyat says that Gilead's (GILD) growth potential is underappreciated.