Gilead Sciences, Inc. ( GILD ) reported its fourth-quarter financial results after Tuesday's closing bell. Here's a look at the highlights from the report. 

The Details: Gilead Sciences ( GILD ) reported quarterly earnings of $1.90 per share which beat the analyst consensus estimate of $1.70. Quarterly revenue came in at $7.56 billion which beat the analyst consensus estimate of $7.13 billion and is an increase over revenue of $7.11 billion from the same period last year.

Total fourth quarter 2024 product sales increased 7% to $7.5 billion compared to the same period in 2023.

Total product sales excluding Veklury increased 13% to $7.2 billion compared to the same period in 2023, primarily due to higher sales in HIV, as well as in Oncology and Liver Disease.

Non-GAAP product gross margin was 86.7% in the fourth quarter of 2024 compared to 86.1% in the same period in 2023.

Research and development expenses were $1.6 billion in the fourth quarter of 2024 compared to $1.4 billion in the same period in 2023, primarily due to incremental investments and clinical activities across the portfolio.

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“Gilead delivered another exceptionally strong full year and fourth quarter, with growth in our base business product sales of 8% for 2024 and 13% year-over-year for the fourth quarter,” said Daniel O’Day, Gilead’s CEO.

“From this foundation of commercial strength, we are planning for the potential launch of lenacapavir for HIV PrEP in Summer 2025, with its unique opportunity to extend the reach of HIV prevention. This potential in HIV, along with our strong and diverse portfolio, and improved operational efficiencies, positions Gilead to deliver increasing patient impact and compelling shareholder returns in the years ahead,” O’Day added.

Outlook: The company sees fiscal 2025 adjusted earnings in a range of $7.70 to $8.10 per share, versus the $7.58 estimate, and revenue in a range of $28.2 billion to $28.6 billion, versus the $28.42 billion estimate.

GILD Price Action: According to data from Benzinga Pro, Gilead Sciences ( GILD ) shares are up 4.42% after hours at $100.39 Tuesday.  

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