Gilead Sciences Inc. GILD shares rose 0.83% to $65.84 in after-hours trading on Thursday. The drug manufacturer posted first-quarter non-GAAP earnings of $1.76 per share, beating estimates by 16 cents. Non-GAAP earnings per share increased nearly 20% year over year and GAAP earnings per share of $1.54 grew 31.6%.
Revenue of $5.28 billion grew 3.8% from the prior-year quarter, which was in line with expectations.
Total sales of key products grew 4% to $5.2 billion. Sales of HIV treatment Genvoya fell 6.2% to $1.015 billion, sales of Truvada, another HIV treatment, declined 7.1% to $606 million and the complete regimen for HIV infection Biktarvy soared to $793 million.
Sales of the HIV treatment Odefsey increased 16.1% to $397 million, sales of Yescarta, which is used to treat specific types of non-Hodgkin lymphoma, jumped 140% to $96 million and HIV infection controller Descovy sales declined 5.3% to $342 million.
For 2019, Gilead expects product sales of $21.3 billion to $21.8 billion, which is unchanged from the previous range.
The closing share price of $65.3 on Thursday was below the 200- and 100-day simple moving average lines and is close to the 50-day line. The stock has a market capitalization of approximately $83.25 billion. The 52-week range is $60.32 to $79.61.
Additionally, the Foster City, California-based drug producer declared a quarterly cash dividend of 63 cents per ordinary share. Gilead will pay the dividend on June 27 to shareholders of record as of June 14. The ex-dividend date is scheduled for June 13. The distribution leads to a forward dividend yield of 3.88%, compared to an industry median of 1.66% at close on Thursday.
Disclosure: I have no positions in any securities mentioned.
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