Gilead Sciences Inc. Q1 Profit Declines 31%

(RTTNews) - Gilead Sciences Inc. (GILD) released earnings for first quarter that decreased from last year.

The company said its bottom line dropped to $2.95 billion, or $2.23 per share. This was lower than $4.27 billion, or $3.03 per share, in last year's first quarter.

Analysts had expected the company to earn $2.28 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 16.4% to $6.51 billion. This was down from $7.79 billion last year.

Gilead Sciences Inc. earnings at a glance:

-Earnings (Q1): $2.95 Bln. vs. $4.27 Bln. last year. -Earnings Decline (Y-o-Y): -30.9% -EPS (Q1): $2.23 vs. $3.03 last year. -EPS Decline (Y-o-Y): -26.4% -Analysts Estimate: $2.28 -Revenue (Q1): $6.51 Bln vs. $7.79 Bln last year. -Revenue Change (Y-o-Y): -16.4%