Gilead Q2 earnings to focus on slowing remdesivir sales
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Gilead Sciences (NASDAQ:GILD) is scheduled to announce Q2 earnings results on Tuesday, August 2nd, after market close.
The consensus EPS Estimate is $1.52 (-18.7% Y/Y) and the consensus Revenue Estimate is $5.87B (-5.6% Y/Y).
Over the last 2 years, GILD has beaten EPS estimates 75% of the time and has beaten revenue estimates 75% of the time.

Over the last 3 months, EPS estimates have seen 5 upward revisions and 6 downward. Revenue estimates have seen 5 upward revisions and 4 downward. 


Last quarter, net income plummeted 99% to just $12M compared to the prior-year period driven by a one-time in-process research and development impairment charge of $2.7B.
But, the biotech beat on both the top and bottom lines.
Revenue rose 2.6% Y/Y to ~$6.6B.
Sales of its COVID-19 treatment Veklury (remdesivir) rose 5% to ~1.5B.
The company revised its full-year EPS to $3.00-$3.50 from $4.70-$5.20 previously. Wall Street estimates the company to earn $6.58.

In July, Gilead signed deal with EU to deliver COVID-19 therapy, under which the countries can purchase up to ~2.3M vials of Veklury. It also received full approval for the drug.
Investors will also be looking out for the performance of Gilead's other medicines such as HIV drug Biktarvy and oncology therapies Trodelvy and Yescarta.