GILEAD SCIENCES Reports Record Second Quarter Earnings for FY2023
August 23, 2023
🌥️Earnings Overview
On August 3, 2023, GILEAD SCIENCES ($NASDAQ:GILD) reported their second quarter earnings results for FY2023: total revenue for the quarter ending June 30, 2023 was USD 6.6 billion, representing a 5.4% increase from the same period one year prior. In contrast, net income for the quarter was USD 1.0 billion, signifying an 8.8% decrease from the same quarter in the prior year.
Price History
On Thursday, GILEAD SCIENCES reported its financial results for the second quarter of fiscal year 2023. The company’s stock opened at $75.7 and closed at $75.5, down by 0.2% from the prior closing price of 75.7. Despite this slight dip, the second quarter profits saw a significant increase and were record-breaking. This strong performance was attributed to high sales of its antiviral therapies and cancer treatments.
The company’s CEO and chairman John F. Milligan commented on the results, saying that he was pleased with the performance and that it was a testament to the hard work of their employees. He also expressed optimism about the company’s growth prospects in the coming years, as GILEAD SCIENCES continues to develop new therapies and treatments that will benefit patients around the world. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Gilead Sciences. More…
| Total Revenues | Net Income | Net Margin |
| 27.38k | 5.48k | 30.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Gilead Sciences. More…
| Operations | Investing | Financing |
| 9.51k | -2.4k | -6.18k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Gilead Sciences. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 62.34k | 41.24k | 16.96 |
Key Ratios Snapshot
Some of the financial key ratios for Gilead Sciences are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.3% | 54.8% | 30.2% |
| FCF Margin | ROE | ROA |
| 32.6% | 24.5% | 8.3% |
Analysis
At GoodWhale, we recently conducted a wellbeing analysis of GILEAD SCIENCES. Our analysis concluded that GILEAD SCIENCES is a medium risk investment in terms of both financial and business aspects, according to our Risk Rating. In addition, our analysis found two risk warnings in GILEAD SCIENCES’s income sheet and balance sheet. To access more detailed information about these risk warnings, users must become registered GoodWhale members. After registering, users will have access to our comprehensive reports and be supplied with the information needed to make informed decisions about their investments. GoodWhale’s wellbeing analysis ensures that investors can confidently make decisions about their investments. We strive to provide comprehensive, up-to-date reports that clearly present the potential risks of any investment. To access our full analysis of GILEAD SCIENCES, join GoodWhale today! More…
Peers
In the biopharmaceutical industry, competition is fierce. Among the companies vying for market share are Gilead Sciences Inc, Eli Lilly and Co, Amgen Inc, and SCYNEXIS Inc. All of these companies are working to develop new and innovative treatments for a variety of diseases.
– Eli Lilly and Co ($NYSE:LLY)
Eli Lilly and Co is a pharmaceutical company with a market cap of 316.8 billion as of May 2021. The company has a return on equity of 45.88% and is headquartered in Indianapolis, Indiana. Eli Lilly and Co develops and markets prescription medications and over-the-counter products. The company’s products are available in approximately 120 countries.
– Amgen Inc ($NASDAQ:AMGN)
Amgen Inc is a biopharmaceutical company with a market cap of 135.3B as of 2022. The company has a return on equity of 460.37%. Amgen Inc is a biopharmaceutical company that discovers, develops, manufactures, and delivers human therapeutics worldwide. The company offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and nephrology.
– SCYNEXIS Inc ($NASDAQ:SCYX)
SCYNEXIS Inc. is a biopharmaceutical company, which focuses on the development and commercialization of novel anti-infectives to address unmet therapeutic needs. The company’s lead product, SCY-078, is an oral and intravenous antifungal agent in Phase 3 clinical development for the treatment of serious and life-threatening invasive fungal infections. SCYNEXIS Inc. was founded by Peter R. Lupton, David P. Lupton and George W. Schmidt in December 1997 and is headquartered in Durham, NC.
Summary
GILEAD Sciences reported their second quarter earnings for FY2023 at the end of August, showing an overall increase in revenue of 5.4% from a year prior. Despite this increase in revenue, net income for the quarter was down 8.8% from the same period in the previous year. Investors may be concerned about the lower net income but the higher revenue could be an indication of growth opportunities for the company over the coming quarters. Analysts should closely examine the company’s cost control measures and future projections to determine the strength of the company’s performance and potential for further growth.
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