The bio company has reported exceptional earnings for the first quarter of the financial year of 2015.
Gilead Sciences Inc (NASDAQ:GILD) was observed to have reported their earnings for the first quarter of the financial year of 2015 on Thursday, April 30. The bio company has reportedly surprised the whole biotech industry after reporting extra ordinary earnings for the quarter. The earnings for the quarter seem to have turned the company’s position around. The Californian Company’s quarter turned out to be much better than what the analysts had expected as all the estimations were proved wrong with the earnings.
The earnings per share of Gilead Sciences came around to be at a massive $2.94 which beat the estimation of analysts at Thomson Reuters which expected the EPS to turn out to be $2.32. On the other hand, the revenue generated for the quarter came around to be $7.59 billion whereas the expected revenue by the analysts of the same equity firm was $6.92. This shows that the bio company went above the predictions with a massive difference and pleasantly surprised the shareholders and investors.
If the first quarter of the previous year is taken into consideration, Gilead report earnings per share of $1.48 and the revenue was noted to be $5.00 billion. According to the most recent news update, it became evident that the bio company gave guidance only a few weeks prior to the first quarterly earnings of the new financial year and the expectations show that the firm is predicting the revenue to be much higher than the revenue that was received the year before. Around $28 billion to $29 billion are expected by the firm on a yearly basis while the previous expectations came around at $26 to $27 billion.
The earnings per share according to the guidance report given by Gilead came around to be $9.68 for the full fiscal year of 2015.
Gilead Sciences sales and revenue soared higher than expectations due to the fact that product sales of antiviral medicines observed a huge growth in the quarter coming around at $7.0 billion which was previously $4.5 billion as per the recorded data of the first quarter of 2014.
Currently, the shares of the biotech company are trading at a share price of $100.51.
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