Gilead Q2 top line, non-GAAP earnings down on pandemic disruptions

Gilead Sciences (NASDAQ:GILD) Q2 results:

Total revenues: $5,143M (-9.5%); product sales: $5,067M (-9.7%); HIV: $4,000M (-1.0%).

Sales were pressured by pandemic-related disruptions affecting HCV products and generic encroachment on Letairis and Ranexa.

Top sellers: Biktarvy: $1,604M (+43.7%); Genvoya: $816 (-16.7%); Truvada: $387M (-46.1%); Yescarta: $156M (+30.0%).

Net income: ($3,339M) (-277.6%); non-GAAP net income: $1,400M (-36.2%); EPS: ($2.66) (-281.0%); non-GAAP EPS: $1.11 (-35.5%).

2020 guidance: Product sales: $23.0B – 25.0B from 21.8B – 22.2B; EPS: $0.83 – 2.23 from $5.15 – 5.55; non-GAAP EPS: $6.25 – 7.65 from $6.05 – 6.45.

https://seekingalpha.com/news/3597943-gilead-q2-top-line-down-10-non-gaap-earnings-down-36-from-pandemic-disruptions