Gilead Sciences, Inc. (GILD) Earnings

metirFinance

Sep 2026upcoming

Next quarter

Expected to report Oct 29, 2026 — estimated from last year’s reporting date.

Consensus is $2.14 EPS for Sep 2026 across 6 estimates, ranging $1.84 to $2.30.

GILD Jun 2026

Reported Aug 4, 2026

: 4.53%
: -2.58%

: -$7.07
: -$6.75
: —
: $7.80B

Reported results

: $7.80B; from $7.08B
: 79.76%; from 78.81%
: -$10.39B; from $2.47B
: -133.21%; from 34.93%
: -$10.50B; from $1.96B
: -$8.45; from $1.56

Highlights

Second-quarter revenue was $7.803 billion, up 10% from $7.082 billion a year earlier; six-month revenue was $14.763 billion, up 7%.
HIV revenue increased 12% to $5.693 billion, led by Biktarvy at $3.772 billion, up 7%, Descovy at $653 million, up 48%, and initial Yeztugo revenue of $232 million.
Liver Disease revenue rose 10% to $877 million, including Livdelzi revenue of $167 million; Veklury revenue fell 81% to $23 million as COVID-19-related hospitalizations declined.
Oncology revenue increased 3% to $873 million: Trodelvy rose 26% to $457 million, while Cell Therapy declined 14% to $417 million because of competitive headwinds.
Product gross margin was 79.3%, up 58 basis points year over year for the quarter, while R&D expense rose 18% to $1.764 billion and SG&A increased 41% to $1.921 billion.
Net loss was $10.496 billion, or $8.45 per diluted share, including $11.183 billion of acquired IPR&D expense and a $1.750 billion impairment charge; no financial guidance ranges or capex figures were provided.

Analysis

No consensus figures were provided, so the quarter cannot be assessed against an external earnings expectation. Revenue was solid, reaching $7.803 billion, up 10% year over year versus 7% growth in the first six months. HIV carried results, rising 12% to $5.693 billion on stronger Biktarvy, Descovy and Yeztugo demand and pricing. Liver Disease grew 10% to $877 million, while Trodelvy increased 26% to $457 million. These gains were partly offset by an 81% Veklury decline to $23 million and a 14% Cell Therapy decline to $417 million amid competitive pressure. Product gross margin held at 79.3%, with the reported quarterly comparison described as relatively flat. Profitability nevertheless collapsed to a $10.496 billion net loss from $1.960 billion of net income, driven by $11.183 billion of acquired IPR&D, a $1.750 billion impairment, and higher operating expenses. R&D rose 18% and SG&A 41%.

Guidance

No financial guidance was given in the supplied material: management provided no revenue, earnings, margin, or capex ranges for the next quarter or full year, and no revisions to a prior financial guide were described. The forward-looking items were primarily regulatory milestones rather than operating targets. The FDA has a PDUFA target action date of August 27, 2026 for bictegravir and lenacapavir, December 23, 2026 for anito-cel, and February 2, 2027 for a potential once-weekly Yeztugo formulation. These dates remain subject to regulatory review and do not constitute financial guidance.

What drove it

HIV franchise — HIV product sales increased 12% to $5.693 billion, with Biktarvy up 7% to $3.772 billion and Descovy up 48% to $653 million.
Trodelvy growth — Trodelvy revenue increased 26% to $457 million on higher demand.
Veklury decline — Veklury revenue fell 81% to $23 million because of lower COVID-19-related hospitalizations.
Cell Therapy pressure — Cell Therapy revenue declined 14% to $417 million, primarily reflecting lower demand from ongoing competitive headwinds.
Acquisition spending — Acquired IPR&D expense was $11.183 billion, primarily tied to the $7.0 billion Arcellx, $3.1 billion Tubulis and $1.0 billion Ouro Medicines acquisitions.

Watch items

Veklury revenue declined 81% to $23 million as COVID-19-related hospitalizations fell.
Cell Therapy revenue declined 14% to $417 million because of ongoing competitive headwinds.
The discontinuation of the Phase 3 EVOKE-03 study led to a $1.750 billion impairment of the related NSCLC IPR&D asset.
R&D expense increased 18% to $1.764 billion and SG&A increased 41% to $1.921 billion, adding pressure to profitability alongside acquisition-related charges.

Gilead Sciences, Inc.

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