Gilead Q2 Results, Guidance Up, Shares Rise

Gilead Sciences reported a strong second quarter for 2025, with net income rising to about $1.96 billion ($1.56 per share), up from $1.61 billion ($1.29 per share) a year earlier, and adjusted earnings per share matching last year's $2.01, slightly beating analyst forecasts. The company's total revenue grew by 2% to $7.08 billion, largely due to a 7% increase in HIV product sales, especially from Biktarvy and Descovy. Sales of liver disease drugs and Veklury fell, attributed to lower hepatitis C demand and fewer Covid-19 hospitalizations. Gilead raised its full-year guidance, projecting product sales between $28.3 billion and $28.7 billion and adjusted EPS between $7.95 and $8.25, citing strength in its HIV portfolio and new launches like Yeztugo. Despite higher R&D expenses and a decline in operating margin, Gilead has outperformed consensus expectations in three of the last four quarters. Shares rose nearly 3% after the announcement as investors monitored efforts to expand insurer coverage for Yeztugo.