Why Gilead Sciences Stock Slipped Today

Core Insights - Gilead Sciences reported a mixed first quarter, with a revenue of $6.67 billion, remaining flat compared to the same quarter of 2024, leading to a decline in share price by over 2$6.67 billion was attributed to declines in sales of the COVID drug Veklury and oncology products, which were offset by improvements in liver disease and HIV medications [2] - Analysts had projected revenue of $6.78 billion, indicating that Gilead's performance fell short of expectations [4] Profitability - Gilead achieved a non-GAAP net income of just under$2.3 billion, or $1.81 per share, a significant turnaround from a loss of$1.6 billion in the previous year [3] - The first quarter results were impacted by the acquisition of CymaBay Therapeutics and a $2.4 billion impairment related to a previous deal with Immunomedics [3] Guidance Adjustments - Gilead revised its full-year earnings per share guidance for 2025 to a range of$5.65 to $6.05, down from the previous forecast of$5.95 to $6.35, which disappointed some investors [5] - The adjusted profitability estimate remained unchanged at$7.70 to $8.10 per share, with revenue expectations still set at$28.2 billion to $28.6 billion [5]