Why Gilead Sciences Stock Is Trading Lower After The Bell
Portfolio Pulse from Adam Eckert
Gilead Sciences, Inc. (NASDAQ:GILD) reported lower than expected Q4 earnings and issued a weaker than anticipated 2024 revenue and earnings guidance, leading to a decline in its stock price in after-hours trading. The company's Q4 revenue was $7.1 billion, matching estimates, but its EPS of $1.72 missed the expected $1.76. The decrease in revenue was attributed to lower sales of Veklury (remdesivir) and HIV products. Despite this, Gilead remains optimistic about its future, highlighting upcoming milestones in HIV prevention and treatment, Cell Therapy, and Trodelvy. Additionally, Gilead announced a 2.7% increase in its dividend.
February 06, 2024 | 10:28 pm
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Gilead Sciences reported lower than expected Q4 earnings and provided a weaker 2024 guidance, leading to a stock price decline in after-hours trading. The company remains optimistic about future milestones.
Gilead's stock price decline in after-hours trading is directly related to its lower than expected Q4 earnings and weaker 2024 guidance. The company's optimistic outlook on future milestones may mitigate some concerns, but the immediate financial results and guidance have a more direct impact on investor sentiment and stock price in the short term.
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