FOSTER CITY, Calif. (AP) — FOSTER CITY, Calif. (AP) — Gilead Sciences Inc. (GILD) on Thursday reported first-quarter net income of $1.01 billion.
On a per-share basis, the Foster City, California-based company said it had profit of 80 cents. Earnings, adjusted for non-recurring costs, came to $1.37 per share.
The results did not meet Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.63 per share.
The HIV and hepatitis C drugmaker posted revenue of $6.35 billion in the period, which also fell short of Street forecasts. Eight analysts surveyed by Zacks expected $6.39 billion.
Gilead expects full-year earnings in the range of $6.60 to $7 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GILD at https://www.zacks.com/ap/GILD
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