FX.co ★ Gilead Sciences Inc. Q3 Profit Decreases, But Beats Estimates

Gilead Sciences Inc. (GILD) has reported its third-quarter earnings, which have declined compared to the previous year, yet still surpassed Wall Street expectations.

The company announced a net income of $1.253 billion, translating to $1.00 per share, as opposed to $2.180 billion, or $1.73 per share, in the same quarter of the previous year.

Excluding certain items, the adjusted earnings for Gilead stood at $2.02 per share for this quarter.

According to data provided by Thomson Reuters, analysts, on average, projected the company's earnings to be $1.55 per share, with the estimates customarily excluding special items.

For the quarter, Gilead Sciences' revenue increased by 7.0%, reaching $7.545 billion, up from $7.051 billion the previous year.

A summary of Gilead Sciences Inc.'s third-quarter earnings (GAAP) is as follows:

- Earnings: $1.253 billion compared to last year's $2.180 billion

- Earnings per Share (EPS): $1.00 compared to $1.73 last year

- Revenue: $7.545 billion compared to $7.051 billion last year