Mixed set of financials from Gilead Sciences
US biotech Gilead Sciences (Nasdaq: GILD) announced its financial results for the fourth quarter and full year 2021 after markets closed on Tuesday.
Total fourth quarter 2021 revenue of $7.2 billion decreased 2% compared to the same period in 2020, due to decreased demand for COVID-19 antiviral Veklury (remdesivir), partially offset by favorable pricing dynamics in HIV. However, total sales beat consensus forecast of $6.7 billion. Gilead’s shares fell 3.1% to $66.30 after-hours, but edged back 3.6% to $66.00 in pre-market trading today.
Diluted earnings per share (EPS) plunge to $0.30 for the fourth quarter 2021 compared to $1.23 for the same period in 2020. Non-generally accepted practice (GAAP) diluted EPS decreased to $0.69 for the fourth quarter 2021 compared to $2.19 for the same period in 2020, well below the $1.59 expected by FactSet.
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