Gilead Announces Second Quarter 2017 Financial Results

Published: Jul 27, 2017

FOSTER CITY, Calif.--(BUSINESS WIRE)--Gilead Sciences, Inc. (Nasdaq: GILD) announced today its results of operations for the second quarter ended June 30, 2017. The financial results that follow represent a year-over-year comparison of the second quarter 2017 to the second quarter 2016. Total revenues were $7.1 billion in 2017 compared to $7.8 billion in 2016. Net income was $3.1 billion or $2.33 per diluted share in 2017 compared to $3.5 billion or $2.58 per diluted share in 2016. Non-GAAP net income, which excludes amounts related to acquisition-related, up-front collaboration, stock-based compensation and other expenses, was $3.4 billion or $2.56 per diluted share in 2017 compared to $4.2 billion or $3.08 per diluted share in 2016.

Three Months Ended Six Months Ended
June 30, June 30,
(In millions, except per share amounts) 2017 2016 2017 2016
Product sales $ 7,046 $ 7,651 $ 13,423 $ 15,332
Royalty, contract and other revenues 95 125 223 238
Total revenues $ 7,141 $ 7,776 $ 13,646 $ 15,570
Net income attributable to Gilead $ 3,073 $ 3,497 $ 5,775 $ 7,063
Non-GAAP net income* $ 3,372 $ 4,177 $ 6,321 $ 8,451
Diluted earnings per share $ 2.33 $ 2.58 $ 4.38 $ 5.11
Non-GAAP diluted earnings per share* $ 2.56 $ 3.08 $ 4.79 $ 6.11

* Non-GAAP net income and non-GAAP diluted earnings per share exclude acquisition-related, up-front collaboration, stock-based compensation and other expenses. A reconciliation between GAAP and non-GAAP financial information is provided in the tables on pages 7 and 8.

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