Gilead Boosted Partly By Currencies (GILD)

Health and Healthcare

Published: October 16, 2008 3:23 pm

Last Updated: April 27, 2020 10:06 pm

Gilead Sciences Inc. (NASDAQ: GILD) has just issued its third quarter earnings at $0.52 net EPS and $0.55 non-GAAP EPS and $1.37 billion in revenue. First Call had estimates at $0.49 non-GAAP EPS and $1.32 billion in revenue. But more important than earnings were some key metrics which might be accounting for some issues.

This was a record quarter for the biotech giant with a 39% productsales gain. Antviral sales grew 39% to $1.23 billion from sales ofAIDS drugs. Atripla gained 77% to $427.6 million. Truvada jumped 34%to $549.1 million, and Viread sales rose almost 5% to $156 million.Hepsera for chronic hepatitis grew 15% to $91.2 million. AmBisome forsevere fungal infections increased 6% to $72.9 million.

Its royalty business revenues fell 66% to $96.9 million from lowerTamiflu sales and royalties by Hoffman La-Roche. There is aninteresting note here on currencies, and one which might take somethunder out of the numbers. Currencies gave a favorable result of$58.8 million to revenues and $36.7 million of the earnings when youcompare it to the Q3-2007 levels.

Gilead also plans to spend $750 million for share buybacks on anaccelerated basis out of the $3 billion plan announced last year.

We did not get formal guidance from the company. It appears thatshares aren’t rallying as much as you might have guessed because ofthose currency numbers and perhaps on some drops in royalties. Butshares closed up 8% today at $41.39 and shares are up 2% at $52.40 inafter-hours trading.

Jon C. Ogg
October 16, 2008

Are You Still Paying With a Debit Card?

The average American spends $17,274 on debit cards a year, and it’s a HUGE mistake. First, debit cards don’t have the same fraud protections as credit cards. Once your money is gone, it’s gone. But more importantly you can actually get something back from this spending every time you swipe.

Issuers are handing out wild bonuses right now. With some you can earn up to 5% back on every purchase. That’s like getting a 5% discount on everything you buy!

Our top pick is kind of hard to imagine. Not only does it pay up to 5% back, it also includes a $200 cash back reward in the first six months, a 0% intro APR, and…. $0 annual fee. It’s quite literally free money for any one that uses a card regularly. Click here to learn more!

Flywheel Publishing has partnered with CardRatings to provide coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.