Gilead Sciences, Inc.: Beat — EPS $2.55, Revenue $8.3B
Earnings BeatQ3 2026 · After-market
Did Gilead Sciences, Inc. (GILD) beat earnings today?
Yes, Gilead Sciences, Inc. (GILD) beat Wall Street analyst expectations for Q3 2026, reporting higher-than-expected EPS and higher-than-expected revenue.
Earnings Per Share+16.44% surprise
$2.55Actual
Expected: $2.19
vs. year ago +3.0%
Total Revenue+6.41% surprise
$8.3BActual
Expected: $7.8B
vs. year ago +6.8%
Released Oct 29 · 4:02 PM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $8.30B | $7.77B | +7.0 |
| Revenue detail — reported lines | |||
| └─Product sales | $8.29B | $7.34B | +13.0 |
| └─Royalty, contract and other revenues | $11.00M | $424.00M | -97.0 |
| └─HIV | $6.25B | $5.28B | +18.0 |
| └─Liver Disease | $927.00M | $819.00M | +13.0 |
| └─Oncology | $860.00M | $788.00M | +9.0 |
| └─Other | $167.00M | $184.00M | -9.0 |
| └─Veklury | $86.00M | $277.00M | -69.0 |
| └─Biktarvy | $4.06B | $3.69B | +10.1 |
| └─Descovy | $1.05B | $701.00M | +49.2 |
| └─Genvoya | $339.00M | $377.00M | -10.1 |
| └─Odefsey | $286.00M | $277.00M | +3.2 |
| └─Symtuza | $132.00M | $124.00M | +6.5 |
| └─Yeztugo | $305.00M | $39.00M | +682.1 |
| └─Other HIV | $82.00M | $73.00M | +12.3 |
| └─Livdelzi | $203.00M | $105.00M | +93.3 |
| └─Sofosbuvir / Velpatasvir | $274.00M | $309.00M | -11.3 |
| └─Vemlidy | $333.00M | $280.00M | +18.9 |
| └─Other Liver Disease | $117.00M | $126.00M | -7.1 |
| └─Cell Therapy | $355.00M | $432.00M | -18.0 |
| └─Trodelvy | $506.00M | $357.00M | +42.0 |
| └─AmBisome | $99.00M | $123.00M | -19.5 |
| GAAP Basic EPS | $1.96 | $2.46 | -20.3 |
| GAAP Diluted EPS | $1.94 | $2.43 | -20.2 |
| Non-GAAP Diluted EPS | $2.55 | $2.47 | +3.0 |
| Net Income | $2.43B | $3.05B | -20.4 |
Financial Outlook / Guidance
| Metric | Next Quarter Outlook | FY 2026 Outlook |
|---|---|---|
| Product sales | — | $31,000M-$31,300M (prev. $30,100M-$30,400M) |
| Product sales excluding Veklury | — | $30,700M-$31,000M (prev. $29,800M-$30,100M) |
| Veklury | — | ~$300M (unchanged) |
| Diluted loss per share | — | $(4.40)-$(4.05) (prev. $(3.75)-$(3.40)) |
| Non-GAAP diluted loss per share | — | $(1.20)-$(0.85) (prev. $(0.65)-$(0.30)) |
| GAAP Product Gross Margin | — | ~79.0% |
| Non-GAAP Product Gross Margin | — | ~87.0% |
| GAAP Operating Income | — | $(3,150M)-$(2,750M) |
| Acquisition-related, IPR&D impairment, restructuring and other expenses | — | ~$5,150M |
| Non-GAAP Operating Income | — | $2,000M-$2,400M |
| GAAP Diluted Loss Per Share | — | $(4.40)-$(4.05) |
| Acquisition-related, IPR&D impairment, restructuring and other expenses, fair value adjustments of equity securities and discrete and related tax adjustments | — | ~$3.20 |
| Non-GAAP Diluted Loss Per Share | — | $(1.20)-$(0.85) |
Business Highlights
- ➤Received FDA approval for Bixlenvo, a complete single-tablet HIV treatment regimen.
- ➤Expanded royalty-free lenacapavir licensing to include investigational once-yearly HIV prevention.
- ➤Expanded lenacapavir licensing covers 120 high-incidence countries.
- ➤Agreed with PAHO to accelerate twice-yearly lenacapavir prevention access across Latin America and Caribbean.
- ➤Received European Commission authorization for Trodelvy plus Keytruda in first-line PD-L1-positive mTNBC.
- ➤Announced definitive agreement to acquire PepStar’s oral IL-23R inhibitor program.
- ➤Phase 2 SWIFT results showed emvistegrast met its Week 12 clinical-response primary endpoint.
- ➤Plans to initiate a Phase 3 emvistegrast monotherapy study for ulcerative colitis in 2027.
- ➤Opened a new Research Center for oncology, inflammation and research data science.
- ➤Research Center is first of three projects supporting $32 billion U.S. R&D and manufacturing investment through 2030.
- ➤CMS completed Biktarvy Maximum Fair Price process; new price takes effect January 1, 2028.
- ➤Board declared a $0.82 per-share fourth-quarter dividend.
Management Commentary
Daniel O’Day, Chairman and Chief Executive Officer
“Gilead delivered an exceptional third quarter, with our strongest year-over-year base business growth in more than a decade, reflecting the strength, breadth and durability of our business. Our performance enabled us to raise our full year base business revenue guidance again this quarter, bringing the total increase to $1.6 billion since the start of 2026. Our HIV business grew 18% and HIV prevention sales nearly doubled year-over-year. With multiple ongoing and potential launches across HIV and Oncology, important progress in Inflammation and a disciplined operating model, Gilead is well positioned for business growth and impact for patients.”