Gilead Sciences, Inc. (GILD) has reported a 33.63 percent plunge in profit for the quarter ended Dec. 31, 2016. The company has earned $3,108 million, or $2.34 a share in the quarter, compared with $4,683 million, or $3.18 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $3,585 million, or $2.70 a share compared with $4,889 million or $3.32 a share, a year ago.
Revenue during the quarter dropped 13.94 percent to $7,320 million from $8,506 million in the previous year period. Gross margin for the quarter contracted 220 basis points over the previous year period to 85.31 percent. Total expenses were 44.74 percent of quarterly revenues, up from 33.92 percent for the same period last year. That has resulted in a contraction of 1082 basis points in operating margin to 55.26 percent.
Operating income for the quarter was $4,045 million, compared with $5,621 million in the previous year period.
For financial year 2017, Gilead Sciences, Inc. expects revenue to be in the range of $22,500 million to $24,500 million. It projects diluted earnings per share to be in the range of $0.84 to $0.91 for the same period.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
