Gilead Sciences Inc. announced second quarter results, with total revenues at $7.77 billion, down from to $8.24 billion in the comparable quarter in 2015. Net income was reported at $3.49 billion, or $2.58 per diluted share, versus $4.49 billion or $2.92 per diluted share in 2015.
Non-GAAP net income was $4.17 billion or $3.08 per diluted share in the second quarter, compared to $4.84 billion or $3.15 per diluted share in the same period a year ago.
The pharmaceutical giant has the strongest sales in antiviral HIV and liver medication, which amounted to $7.1 billion for the second quarter of 2016, compared to $7.6 billion for the same period in 2015. Sales of its two hepatitis C drugs dropped to $4 billion versus $4.9 billion in the same quarter last year.
The Foster City, California-based pharmaceutical corporation cut its 2016 guidance, with revenues at $29.5 billion from previous $30 billion, and with research and development expenses at $3.6-$3.8 billion raised from previous $3.2-$3.5 billion range.
Gilead shares last closed 2.31% higher at $85.55 on Monday's close, but erased gains in the after-market movements, falling towards $85.70 per share at 10:26 p.m. CET.
Image: EPA / Naredra Shrestha
