Gilead Sciences (GILD, Financial) saw its shares rise over 1.6% in pre-market trading to $93.17, with the potential to reach an all-time high after the market opened. The company reported robust third-quarter financial results that surpassed market expectations.
Gilead's third-quarter revenue increased by 7% to $7.55 billion, exceeding the anticipated $7 billion. Adjusted earnings per share (EPS) came in at $2.02, also surpassing the expected $1.55. The strong performance is attributed to solid drug sales.
As a result of these positive outcomes, Gilead raised its full-year guidance. The company now expects revenue between $27.8 billion and $28.1 billion, up from the previous forecast of $27.1 billion to $27.5 billion. The adjusted EPS forecast has been increased to a range of $4.25 to $4.45, compared to the earlier prediction of $3.6 to $3.9, while market expectations stood at $27.72 billion and $3.81, respectively.
