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Earnings analysis · 10-Q

GILD earnings analysis

Filed May 7, 2026 · Our reading of the company's report

The latest report

Gilead Sciences reported Q1 2026 results with revenue of $6.96 billion, marking a 4% increase from $6.67 billion in Q1 2025, and EPS of $2.03, surpassing estimates of $1.91. Key growth drivers included a 10% increase in…

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Gilead Sciences reported Q1 2026 results with revenue of $6.96 billion, marking a 4% increase from $6.67 billion in Q1 2025, and EPS of $2.03, surpassing estimates of $1.91. Key growth drivers included a 10% increase in HIV product sales, particularly from Biktarvy and Descovy, despite challenges in Veklury sales which decreased significantly by 52%.

Read the original on SEC.gov

Where revenue came from

The business segments reported by the company.

Total Revenues 51.3% HIV 37.1% Oncology 6.0% Liver Disease 5.7%

Shares of the segments disclosed in this filing, largest first.

Reported figures

Earnings per share
$2.03
Gross margin
79.2%

What stood out

  • Q1 Revenue Growth of 4%

    Revenue reached $6.96 billion in Q1 2026, up from $6.67 billion in Q1 2025.

  • EPS Surpassed Estimates

    Reported EPS was $2.03, beating estimates of $1.91 by 6.28%.

  • Strong HIV Product Sales Growth

    HIV product sales increased by 10% to $5.03 billion, driven by 38% growth in Descovy.

  • Gross Margin Improvement

    Gross margin improved to 79.2%, up from 76.7% year-over-year.

  • Significant Net Income Increase

    Net income increased by 54% to $2.02 billion from $1.32 billion in the previous year.

  • Increased Operating Cash Flow

    Operating cash flow rose by 45% to $2.54 billion, compared to $1.76 billion in Q1 2025.

What to watch

  • Decline in Veklury Sales

    Veklury's sales dropped by 52%, down to $144 million due to lower COVID-19 hospitalizations.

  • Upcoming Acquisition Charges

    Expected IPR&D expenses of approximately $11.5 billion are projected for Q2 2026, impacting profitability.

  • Increased SG&A Expenses

    Selling, general, and administrative expenses increased by 15% year-over-year to $1.45 billion.

Management's outlook

Outlook deferred to earnings press release / call.

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.