FOSTER CITY (dpa-AFX) - Gilead Sciences, Inc. (GILD) on Thursday reported first-quarter net income of $1.73 billion or $1.37 per share, higher than $1.55 billion or $1.22 per share in the same period last year.
Adjusted net income was $2.63 billion or $2.08 per share, compared to $2.14 billion or $1.68 per share in the year-ago quarter.
On average, 21 analysts polled by Thomson Reuters expected the company to report earnings of $2.09 per share in the quarter. Analysts' estimates, usually exclude one-time items.
Quarterly sales were up 16 percent to $6.40 billion from $5.47 billion in the prior-year period, while analysts were looking for revenues of $6.74 billion in the quarter.
Looking ahead, the company reaffirmed its full-year guidance except for earnings per share, which is now expected between $4.75 and $5.45, updated mainly for actual changes in fair value of equity investments in the first quarter of 2021. Earlier, the company expected earnings per share between $5.25 - $5.95 for the year ahead.
On average, 26 analysts expect the company to report earnings of $7.17 per share in fiscal 2021.
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