Gilead 2017 guidance disappoints, as 4th-qtr sales and profits fall
US biotech major Gilead Sciences (Nasdaq: GILD) recorded sales of $7.32 billion for the fourth-quarter of 2016, down 14.2% from $8.41 billion in the like year-earlier period but just beating analysts’ expectations of $7.2 billion.
Net income reached $3.12 billion, down 33.6% versus $4.68 billion in the fourth quarter of the previous year. Diluted earnings per share were $2.34 versus $3.19 and non-generally accepted accounting principles (GAAP) EPS at $2.70 versus $3.32.
Gilead shares fell 5.32% to $73.13 in after-hours trading on Tuesday.
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