Gilead Profit Tops Estimates as Hepatitis Drug Sales Soar
This article is for subscribers only.
Gilead Sciences Inc. reported first-quarter profit that topped analysts’ estimates as sales of hepatitis C drugs Sovaldi and Harvoni surged. Shares rose in late trading.
Earnings excluding one-time items rose to $2.94 a share from $1.48 a year earlier. Analysts had forecast $2.32 on average, according to estimates compiled by Bloomberg. Revenue increased 52 percent to $7.59 billion, the Foster City, California-based company said Thursday in a statement. Analysts had predicted $6.89 billion.