By Robert Barba

Gilead Sciences Inc. (GILD) said Thursday its net income for the first quarter rose 28% as revenue increased.

The biopharmaceutical company reported quarterly net income of $1.98 billion, or $1.54 a share, compared with $1.54 billion, or $1.17 a share, a year earlier.

Adjusted earnings were $1.76 a share, up from $1.48 a year earlier.

Analysts polled by FactSet expected earnings of $1.26 a share and adjusted earnings of $1.61 a share.

Revenue was $5.28 billion, up from $5.09 billion a year earlier. Analysts expected revenue of $5.3 billion.

The company reiterated its full-year guidance, which calls for net product sales of $21.3 billion to $21.8 billion.

Write to Robert Barba at robert.barba@wsj.com

(END) Dow Jones Newswires

May 02, 2019 16:34 ET (20:34 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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