Gilead Sciences Q2 2026 Results
Gilead Sciences (NASDAQ:GILD) reported second‑quarter 2026 financial results that beat analyst expectations on the top line while posting a sizable adjusted loss attributable to recent acquisition costs. Adjusted loss per share was $6.75, better than the consensus estimate of $7.31. Revenue reached $7.8 billion, exceeding the $7.4 billion forecast and representing a 10 % increase from $7.1 billion in the comparable quarter of the prior year.
The loss was largely driven by $9.08 per share of acquired‑in‑process research and development expenses and related tax charges arising from the acquisitions of Arcellx, Tubulis and Ouro Medicines.
Product sales excluding the Veklury (remdesivir) franchise grew 10 % year‑over‑year to $7.6 billion. Within this growth, HIV product sales rose 12 % to $5.7 billion, with Biktarvy sales increasing 7 % to $3.8 billion and Descovy sales surging 48 % to $967 million. Sales of the oncology‑focused therapy Trodelvy climbed 26 % to $457 million, and the newly launched Livdelzi contributed to the overall increase.
Chief Executive Officer and Chairman Daniel O’Day said, “Gilead delivered a very strong second quarter, with 10 % year‑over‑year revenue growth in our base business driven by our HIV portfolio, Trodelvy and Livdelzi.”
For the full fiscal year 2026, Gilead raised its product‑sales guidance to a range of $30.1 billion to $30.4 billion, up from the prior $30.0 billion to $30.4 billion, with the midpoint of $30.25 billion exceeding typical analyst expectations. Guidance for product sales excluding Veklury was increased to $29.8 billion‑$30.1 billion, up from $29.4 billion‑$29.8 billion. The company also improved its adjusted loss‑per‑share outlook to a range of –$0.65 to –$0.30, better than the earlier guidance of –$1.05 to –$0.65.
Following the release, Gilead’s shares slipped approximately 1 % in after‑hours trading.