FOSTER CITY, Calif. (AP) — FOSTER CITY, Calif. (AP) — Gilead Sciences Inc. (GILD) on Thursday reported first-quarter earnings of $1.32 billion.
The Foster City, California-based company said it had net income of $1.04 per share. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, came to $1.81 per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.82 per share.
The HIV and hepatitis C drugmaker posted revenue of $6.67 billion in the period, which also missed Street forecasts. Six analysts surveyed by Zacks expected $6.84 billion.
Gilead expects full-year earnings in the range of $7.70 to $8.10 per share.
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