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Gilead Beats on Sales and Earnings, Declares First Dividend

GILD  Biopharmaceutical company Gilead Sciences, Inc. (NASDAQ: GILD – $100.51) announced its results of operations for the first quarter ended March 31, 2015. Total revenues were $7.6 billion compared to $5.0 billion in the first quarter of 2014. Adjusted net income, which excludes amounts related to acquisition, restructuring, stock-based compensation and other costs, was $4.6 billion, equal to $2.94 per share compared to $2.5 billion or $1.48 per share in 2014. Street consensus was for earnings of $2.31 per share on sales of $6.89 billion. Gilead also raised its full-year revenue forecast to a range of $28 billion to $29 billion from a range of $27 billion to $28 billion.  Foster City, California-based Gilead will also start paying a dividend that was announced in February, equal to $1.72 per share, annualized and will yield approximately 1.7%. The long-term earnings potential for GILD is attractive and shares can be retained in speculative accounts for those willing to bet on continued success of the company’s anti-viral portfolio.


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