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Jun 30, 2024
Gilead Sciences Q2 2024 Earnings Report
Gilead Sciences reported strong Q2 2024 results with increased revenue and EPS.
Key Takeaways
Gilead Sciences announced its second quarter 2024 financial results, with total revenue increasing by 5% to $7.0 billion. Product sales, excluding Veklury, grew by 6% year-over-year to $6.7 billion, driven by strong performance in HIV, Oncology, and Liver Disease therapies. The company's EPS increased to $1.29, and non-GAAP EPS reached $2.01.
Total revenue increased by 5% to $7.0 billion.
Product sales excluding Veklury increased 6% year-over-year to $6.7 billion.
Biktarvy sales increased 8% year-over-year to $3.2 billion.
Oncology sales increased 15% year-over-year to $841 million.
Gilead Sciences
Gilead Sciences
Gilead Sciences Revenue by Segment
Gilead Sciences Revenue by Geographic Location
Revenue by Segment
HIV Revenue
CapyFin.comRevenue by Geographic Location
U.S. Revenue
CapyFin.comEurope Revenue
CapyFin.comRest of World Revenue
CapyFin.com Forward Guidance
Gilead provided full-year 2024 guidance for product sales, diluted EPS, and non-GAAP diluted EPS.
Positive Outlook
- Product sales are expected to be between $27.1 billion and $27.5 billion.
- Product sales, excluding Veklury, are projected to be between $25.8 billion and $26.2 billion.
- Veklury sales are expected to be $1.3 billion.
- Non-GAAP diluted EPS is projected to be between $3.60 and $3.90.
- The company expects continued growth in its base business.
Challenges Ahead
- Diluted EPS is expected to be between $0.00 and $0.30.
- The financial guidance is subject to a number of risks and uncertainties.
- Uncertainty of the amount and timing of Veklury revenues.
- Potential disruptions to the manufacturing and supply chain of Gilead’s products.
- Market share and price erosion caused by the introduction of generic versions of Gilead products.