Gilead Sciences Stock Slides After Hours On Q3 Report - Here's Why
Portfolio Pulse from Ryan Gustafson
Gilead Sciences, Inc. (NASDAQ:GILD) reported Q3 earnings of $2.29 per share, beating the analyst consensus estimate of $1.92. Quarterly sales were $7.10 billion, also beating the analyst consensus estimate of $6.80 billion. The company outlined the sales performances of its various products, including a 4% YoY increase in HIV product sales. However, Liver disease portfolio sales decreased 10% YoY. Gilead anticipates full-year 2023 Total Product Sales of $26.7 billion to $26.9 billion, an increase from previous guidance. Shares of GILD were down 1.27% in the after-hours session.
November 07, 2023 | 9:36 pm
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Despite beating Q3 earnings and sales estimates, Gilead's stock price fell in after-hours trading. The company's increased guidance for 2023 may positively impact the stock in the longer term.
Gilead's Q3 earnings and sales beat estimates, which is typically positive for a stock. However, the stock fell in after-hours trading, possibly due to other factors not mentioned in the article. The company's increased guidance for 2023 suggests management's confidence in future performance, which could positively impact the stock in the longer term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100