Gilead Sciences Inc. Q3 Profit Decreases, but beats estimates

(RTTNews) - Gilead Sciences Inc. (GILD) reported earnings for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $1.79 billion, or $1.42 per share. This compares with $2.59 billion, or $2.05 per share, in last year's third quarter.

Excluding items, Gilead Sciences Inc. reported adjusted earnings of $2.39 billion or $1.90 per share for the period.

Analysts on average had expected the company to earn $1.43 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.1% to $7.04 billion from $7.42 billion last year.

Gilead Sciences Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $1.79 Bln. vs. $2.59 Bln. last year. -EPS (Q3): $1.42 vs. $2.05 last year. -Analyst Estimates: $1.43 -Revenue (Q3): $7.04 Bln vs. $7.42 Bln last year.

-Guidance: Full year EPS guidance: $6.95 - $7.15