Gilead beats estimates with strong virology and oncology sales

Californian drugmaker Gilead Sciences (Nasdaq: GILD) has exceeded estimates in the third quarter, with revenues of around $7.1 billion and earnings per share (EPS) of $1.73.

While the sales figure is similar to where it was in the same period of last year, profits were higher, up from about $1.42 per share in the third period of 2022, following generally accepted accounting principles (GAAP).

The strong showing was primarily driven by increased sales in oncology and HIV, offset by lower revenues for the firm’s COVID-19 antiviral Veklury (remdesivir).