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.
