Gilead Sciences Inc. (NASDAQ: GILD) is the biggest biotech company in America, and it is one of the top performers for 2013. Despite having a market cap of well over $100 billion now, this was selected in late 2013 as one of the top revenue growers for 2014 among established biotech stocks with revenues and earnings.

Now the company is out with earnings. The results came to $0.55 in earnings per share on $3.12 billion in revenue. Thomson Reuters had estimates of $0.50 in earnings per share and $2.87 billion in revenue. Product sales were up 21% in the quarter from a year ago.

As of December 31, 2013, Gilead had $2.57 billion of cash and cash equivalents. Sovaldi, which was just approved in December 2013 for the treatment of chronic hepatitis C virus, already generated $139.4 million in sales in the month alone. It is expected to be the next blockbuster drug for Gilead.

Gilead also guided revenue for all of 2014 up to $11.3 billion to $11.5 billion. The consensus estimate is up at $14.56 billion, but the guidance excludes the impact of Sovaldi product sales. The company’s expected gross margin for product sales is being forecast at 75% to 77%.

Some highlights are as follows:

• Antiviral product sales increased 22 percent to $2.64 billion for the fourth quarter of 2013, compared to $2.17 billion for the fourth quarter of 2012, reflecting sales growth of 30 percent in the U.S. and 7 percent in Europe.
• Cardiovascular product sales increased 25 percent to $268.5 million for the fourth quarter of 2013 compared to the same period in 2012.
• For 2013, antiviral product sales increased 15 percent to $9.34 billion from $8.14 billion in 2012, reflecting sales growth of 19 percent in the U.S. and 6 percent in Europe.
• Cardiovascular product sales increased 24 percent to $968.6 million in 2013 compared to 2012.

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