© Reuters
Investing.com — Gilead Sciences reported Tuesday fourth-quarter earnings that missed analyst estimates as sales of its HIV treatment rose less than expected.
Gilead Sciences Inc (NASDAQ:) fell more than 2% in afterhours trading following the results.
The California-based company adjusted earnings per share of $1.72 on revenue of $7.1 billion, compared with estimates of $1.76 on revenue of $7.1B.
Sales of Gilead’s HIV treatment Biktarvy, which drives a significant portion of product sales, rose 6.5% to $3.11B, slightly missing estimates of $3.21.
Looking ahead to 2024, the company said it expects adjusted diluted earnings of between $6.85 and $7.25 per share on revenue of $27.1B and $27.5B, compared with forecasts of $7.19 a share on revenue of $27.63B.
