-=Gilead Sciences (GILD) reported earnings on Thur 26 Oct 2017 (a/h)

Gilead Sciences beats by $0.14, beats on revs, Raises low end of FY17 net product sales guidance

• Reports Q3 (Sep) earnings of $2.27 per share, $0.14 better than the Capital IQ Consensus of $2.13; revenues fell 13.2% year/year to $6.51 bln vs the $6.4 bln Capital IQ Consensus.
• HIV and HBV product sales were $3.6 billion compared to $3.5 billion for the same period in 2016.
• HCV product sales, which consist of Harvoni, Sovaldi, Epclusa and Vosevi were $2.2 billion compared to $3.3 billion for the same period in 2016.
• FY17 Outlook:Co raises low end of net product sales guidance, sees $24.5-$25.5 bln in net product sales vs. prior guidance of $24.0-$25.5 bln. Sees Non-GAAP gross margin of 86-87%, down from 86-88% prior guidance.