Gilead opens 3% down on earnings miss

5 February 2019

Daniel O’Day, the man who will take over as chief executive of US biotech giant Gilead Sciences (Nasdaq: GILD) in a month’s time, has been given plenty to think about with the company’s financial results for 2018.

Shares in Gilead opened more than 3% down on Tuesday after the latest quarterly and annual results were announced, a drop likely linked to the adjusted earnings per share (EPS) for the fourth quarter coming to $1.44, well short of analysts’ estimates of $1.70.

Revenue for the quarter came to $5.8 billion, beating analysts’ predictions but marginally down on the same period in 2017, a reminder of the fall in sales from Gilead’s hepatitis C portfolio.

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