FOSTER CITY (dpa-AFX) - Gilead Sciences Inc. (GILD) on Tuesday reported a second-quarter loss, as more than $11 billion in acquired in-process research and development charges tied to recent acquisitions outweighed double-digit revenue growth.
The biopharmaceutical company posted a net loss of $10.50 billion, or $8.45 per share, compared with net income of $1.96 billion, or $1.56 per share, in the year-ago quarter. Adjusted loss was $6.75 per share, compared to earnings of $2.01 per share last year.
Total revenue increased 10% to $7.80 billion from $7.08 billion a year earlier. Product sales rose 8% to $7.63 billion. Excluding Veklury, product sales increased 10% to $7.60 billion, driven by growth in the HIV portfolio, Trodelvy and Livdelzi.
For fiscal 2026, Gilead raised its product sales outlook to $30.1 billion-$30.4 billion from the prior forecast of $30.0 billion-$30.4 billion. Product sales excluding Veklury are now expected to be $29.8 billion-$30.1 billion, compared with the previous outlook of $29.4 billion-$29.8 billion.
However, the company widened its projected loss per share to $3.75-$3.40 from $3.25-$2.85. It improved its adjusted loss outlook to $0.65-$0.30 per share from $1.05-$0.65 previously.
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