Gilead Sciences Reports Q3 Non-GAAP EPS Of $1.84 - Quick Facts

(RTTNews) - Gilead Sciences, Inc. (GILD) reported third-quarter net income of $2.73 billion, or $1.67 per share compared to $788.6 million or $0.47 per share for the third quarter of 2013. Non-GAAP net income for the third quarter of 2014, which excludes acquisition-related, restructuring and stock-based compensation expenses, was $3.01 billion, or $1.84 per share. Excluding the $0.21 impact of the non-tax deductible BPD cumulative catch-up fee, Non-GAAP EPS would have been $2.05 for the third quarter of 2014.

On average, 25 analysts polled by Thomson Reuters expected the company to report profit per share of $1.92 for the quarter. Analysts' estimates typically exclude special items.

Total revenues increased to $6.04 billion compared to $2.78 billion for the third quarter of 2013. Product sales increased to $5.97 billion compared to $2.71 billion for the third quarter of 2013. Analysts expected revenue of $5.99 billion for the quarter.

Gilead updated its full year 2014 guidance. The company now expects its 2014 net product sales in the range of $22.00 billion to $23.00 billion. Diluted EPS impact of acquisition-related, restructuring and stock-based compensation expenses, is expected to be in the range of $0.63-$0.66.