Gilead stock jumped late Thursday after the biotech company reported adjusted earnings of $2.01 per share on $6.95 billion in second-quarter sales.
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On average, analysts polled by FactSet expected Gilead Sciences (GILD) to earn $1.61 per share and report $6.7 billion in sales.
During the year-earlier period, Gilead earned $1.34 a share on $6.6 billion in sales.
For the year, Gilead maintained its outlook for $27.1 billion to $27.5 billion in product sales. That excludes other sources of sales including royalties or contract revenue. The Street projected $3.76 earnings per share and $27.58 billion in sales.
In after-hours trades on today’s stock market, Gilead stock rose 1.4% to 76.65. Shares are forming a cup-with-handle base with a buy point at 78.45, according to MarketSurge.
More to follow.
Follow Allison Gatlin on X, the platform formerly known as Twitter, at @IBD_AGatlin.
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