Markets deterred by Gilead's pessimistic 2020 outlook
Shares in Gilead Sciences (Nasdaq: GILD) were down in pre-market trading on Wednesday following the company’s presentation of its annual and fourth-quarter financial results late Tuesday.
The US biotech met market expectations with its quarterly revenue figure but reported a lower-than-expected fourth-quarter profit and issued guidance for 2020 that fell short of analyst expectations.
Gilead’s quarterly revenue total was $5.88 billion, a 1.45% rise on the fourth quarter of 2018 and in line with Wall Street estimates. Its annual figure was $22.45 billion, a 1.44% increase.
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