Gilead Misses Analysts’ Profit Estimates on Sales of HIV Drugs
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Gilead Sciences Inc., the world’s biggest maker of AIDS medicines, reported first-quarter profit that missed analysts’ estimates on declining sales of its HIV drugs.
Net income increased to $722 million, or 43 cents a share, from $442 million, or 28 cents a share, a year earlier, the Foster City, California-based company said today in a statement. Earnings, excluding some items, of 48 cents a share fell short by 2 cents of the average of 24 analysts’ estimates compiled by Bloomberg. Revenue rose 11 percent to $2.53 billion.