Gilead Sciences Q1 earnings beat expectations, but full-year EPS guidance was significantly lowered due to multiple acquisition deals.

Glonghui, May 8th | Gilead Sciences announced that its first-quarter revenue increased by 4% year-on-year to $6.96 billion, exceeding the market expectation of $6.91 billion; adjusted earnings per share were $2.03, also surpassing the market expectation of $1.91. During the period, sales of the HIV treatment drug Biktarvy grew by 7% to $3.36 billion, slightly higher than the market forecast of $3.32 billion; sales of the oncology drug Trodelvy increased by 37% to $402 million. Looking ahead for the full year, Gilead Sciences raised its revenue guidance to between $30 billion and $30.4 billion. Due to acquisitions including cell therapy company Arcellx, autoimmune drug developer Ouro Medicines, and oncology drug developer Tubulis, the company now expects adjusted loss per share to be between $1.05 and $0.65, compared to the previous forecast of earnings per share between $8.45 and $8.85.