Gilead Sciences Likely to Post Lower 3Q Profit -- Earnings Preview
24 October 2019 - 11:27AM
Dow Jones News
By Kimberly Chin
Gilead Sciences Inc. (GILD) is scheduled to report results for
its fiscal third quarter postmarket on Thursday. Here's what you
need to know:
EARNINGS FORECAST: Analysts on average expect an adjusted profit
of $1.74 a share, compared with $1.84 a share in the same quarter a
year ago, according to a FactSet poll. Gilead Sciences will hold
its investor call at 4:30 p.m. ET.
REVENUE FORECAST: Analysts expect $5.61 billion, per FactSet,
roughly flat from a year ago. In July, Gilead Sciences raised the
high end of its sales target by $300 million for the year.
WHAT TO WATCH:
GALAPAGOS COLLABORATION: In July, the company said will pay
about $5.1 billion to boost its stake in Galapagos NV (GLPGF) to
22%. The move, which represents the companies' second
collaboration, also helps Gilead develop and market Galapagos drugs
outside Europe.
BIKTARVY: HIV-drug Biktarvy, which is one of the most prescribed
HIV regimens in the U.S., helped boost sales in the company's
previous quarter. Sales rose to $1.12 billion in the second quarter
from $185 million last year.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
October 23, 2019 20:12 ET (00:12 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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