Gilead Sciences Likely to Post Lower 3Q Profit -- Earnings Preview

By Kimberly Chin

Gilead Sciences Inc. (GILD) is scheduled to report results for its fiscal third quarter postmarket on Thursday. Here's what you need to know:

EARNINGS FORECAST: Analysts on average expect an adjusted profit of $1.74 a share, compared with $1.84 a share in the same quarter a year ago, according to a FactSet poll. Gilead Sciences will hold its investor call at 4:30 p.m. ET.

REVENUE FORECAST: Analysts expect $5.61 billion, per FactSet, roughly flat from a year ago. In July, Gilead Sciences raised the high end of its sales target by $300 million for the year.

WHAT TO WATCH:

GALAPAGOS COLLABORATION: In July, the company said will pay about $5.1 billion to boost its stake in Galapagos NV (GLPGF) to 22%. The move, which represents the companies' second collaboration, also helps Gilead develop and market Galapagos drugs outside Europe.

BIKTARVY: HIV-drug Biktarvy, which is one of the most prescribed HIV regimens in the U.S., helped boost sales in the company's previous quarter. Sales rose to $1.12 billion in the second quarter from $185 million last year.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

October 23, 2019 20:12 ET (00:12 GMT)

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