Gilead said total revenue for Q1 2024 rose 5% year over year to $6.7 billion. Product sales excluding Veklury rose 6% to $6.1 billion, which the company attributed to higher HIV, Oncology and Liver Disease sales.

1. 01

   Gilead said total revenue for Q1 2024 rose 5% year over year to $6.7 billion. Product sales excluding Veklury rose 6% to $6.1 billion, which the company attributed to higher HIV, Oncology and Liver Disease sales.

2. 02

   The company said diluted loss per share for Q1 2024 was $(3.34), compared with $0.80 a year earlier. It cited acquired IPR&D expense of $3.9 billion ($3.14 per share) tied to the CymaBay acquisition and an IPR&D impairment of $2.4 billion related to Immunomedics as factors behind the decline.

3. 03

   Gilead said operating cash flow for Q1 2024 was $2.2 billion, and that cash, cash equivalents and marketable debt securities were $4.7 billion as of March 31, compared with $8.4 billion as of December 31, 2023. The company also said it paid dividends of $990 million and repurchased $400 million of common stock in the same quarter.

4. 04

   The company said it now expects full-year diluted EPS of $0.10 to $0.50 (previously $5.15 to $5.55) and non-GAAP diluted EPS of $3.45 to $3.85 (previously $6.85 to $7.25). It said product sales guidance of $27,100 million to $27,500 million is unchanged from its prior outlook.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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