FOSTER CITY, Calif. (AP) _ Gilead Sciences Inc. (GILD) on Thursday reported second-quarter net income of $1.52 billion, after reporting a loss in the same period a year earlier.
On a per-share basis, the Foster City, California-based company said it had net income of $1.21. Earnings, adjusted for non-recurring costs, were $1.87 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.76 per share.
The HIV and hepatitis C drugmaker posted revenue of $6.22 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $6.15 billion.
Gilead expects full-year earnings in the range of $6.90 to $7.25 per share.
Gilead shares have climbed 20% since the beginning of the year, while the S&P's 500 index has increased 18%. In the final minutes of trading on Thursday, shares hit $69.81, a decrease of slightly more than 4% in the last 12 months.