Gilead profit beats Wall Street forecasts
Blockbuster hepatitis C medicine Harvoni lifted Gilead Sciences’ second-quarter profit by 23 percent as total revenue for the biotech drugmaker jumped 26 percent and it raised its 2015 sales forecast for the second time.
Gilead Sciences Inc., based in Foster City, said Tuesday that its net income was $4.49 billion ($2.92 per share). That was up from $3.66 billion ($2.20) in 2014’s second quarter.
The average estimate of analysts was for earnings of $2.64 per share.
Revenue soared to $8.24 billion, up from $6.54 billion a year ago. Analysts had expected $7.36 billion.