FOSTER CITY, Calif. (AP) 鈥� FOSTER CITY, Calif. (AP) 鈥� Gilead Sciences Inc. (GILD) on Thursday reported first-quarter net income of $2.02 billion.
On a per-share basis, the Foster City, California-based company said it had net income of $1.61. Earnings, adjusted for one-time gains and costs, were $2.03 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.89 per share.
The HIV and hepatitis C drugmaker posted revenue of $6.96 billion in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $6.89 billion.
Gilead expects full-year results to range from a loss of $1.05 per share to a loss of 65 cents per share.
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