Gilead Q2 revenue $7.0B (+5%), Non-GAAP EPS $2.01; raised Non-GAAP FY guidance to $3.60-$3.90

GILEAD SCIENCES, INC.

2024-Q2 EPS reported -$2.05 revenue$13,640,000,000

Q2 2024 revenue $7.0B (+5% YoY); GAAP diluted EPS $1.29 (prior $0.83), Non-GAAP diluted EPS $2.01 (prior $1.34).
HIV sales +3% to $4.7B; Biktarvy sales +8% to $3.2B; Oncology +15% to $841M; Trodelvy +23% to $320M.
Full-year 2024 product sales guidance unchanged at $27.1-27.5B; non-GAAP EPS guidance raised to $3.60-$3.90; GAAP EPS lowered to $0.00-$0.30.
Phase 3 lenacapavir for HIV prevention showed 100% efficacy in cisgender women; CymaBay acquisition closed for $3.9B.
Product gross margin 77.7% GAAP, 86.0% non-GAAP; operating cash flow $1.3B after $1.2B transition tax payment.

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