Gilead beats forecasts, posting 14% rise in third-quarter 2012 sales
US antiviral drugs giant Gilead Sciences (Nasdaq: GILD) reported results for the third quarter of 2012, with revenues up 14% to $2.43 billion. Net income for the third was $675.5 million, or $0.85 per diluted share compared to $741.1 million, or $0.95 per diluted share, for the third quarter of 2011.
Non-GAAP net income for the third quarter of 2012, which excludes acquisition-related, restructuring and stock-based compensation expenses, was $788.9 million, or $1.00 per diluted share compared to $795.2 million, or $1.02 per diluted share for the third quarter of 2011, beating the average Wall Street estimate of 94 cents a share, according to Thomson Reuters I/B/E/S, and sending the firm’s shares up 3% to $64.91 in after-hours trading.
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