Why Gilead Sciences Stock Is Jumping Today

Shares of Gilead Sciences (NASDAQ: GILD) are jumping today, up by 6.5% as of 11:23 a.m. ET. The gain came after the big biotech announced its second-quarter results following the market close on Tuesday.

Gilead reported Q2 revenue of $6.3 billion, up 1% year over year and better than what Wall Street expected. The company posted adjusted earnings of $1.58 per share. While this reflected a 13% year-over-year decline, it was higher than the consensus estimate of $1.51 per share.

The company also raised its full-year guidance. Gilead now expects total product sales in 2022 will be between $24.5 billion and $25 billion. It previously forecast sales in the range of $23.8 billion to $24.3 billion. In addition, Gilead now looks for adjusted earnings per share between $6.35 and $6.75, up from its previous guidance of $6.20 to $6.70.

Source Fool.com