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GILD · Q3 2026

GILEAD SCIENCES, INC.

Reported 2026-08-04
IN-LINE
51EarnIQ signal
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Confidence rising

Mild quarter-over-quarter shift

Strong base business and HIV growth offset large acquisition-related IPR&D charges, prompting raised revenue guidance.

  • ✓Guidance was raised, with high specificity.
  • ✓Management tone registered as confident (85/100).
  • ✓EarnIQ detected 0 potential management deflections.
Headline–confidence gap

Mixed evidence

The headline and management signals do not point in one direction (confidence rising).

EPS: reported vs expected+8.5%$-6.75 vs $-7.38
Revenue: reported vs expected+3.4%$7.8B vs $7.5B
Guidance specificityHighRaised
Market expectations supplied by Finnhub · Reported vs consensus estimate

Gilead delivered a very strong second quarter, with 10% year-over-year revenue growth in our base business driven by our HIV portfolio, Trodelvy and Livdelzi.

Premium intelligence

The evidence behind the signal

Full report
Management language

Why confidence moved

“Gilead delivered a very strong second quarter, with 10% year-over-year revenue growth in our base business driven by our HIV portfolio, Trodelvy and Livdelzi.”
“We also made significant clinical progress with three FDA approvals and three positive Phase 3 updates.”
“HIV sales grew 12%, reflecting continued strength in treatment and the rapid expansion of our PrEP business, supporting an increase in our base business revenue expectations for 2026”
Guidance specificity
90/100

High specificity

Gilead updated full year 2026 product sales to $30,100 to $30,400 million, while adjusting EPS loss expectations.

Pressure point
!

Significant acquired IPR&D and tax

0 potential deflections detected in management communication.

Narrative break

What changed

Completed major acquisitions of Arcellx, Tubulis, and Ouro Medicines, expanding capabilities in next-gen ADCs and autoimmune therapies.

Q&A evidence

Management responses

No material Q&A deflections were detected.

Key positives
  • Product sales excluding Veklury increased 10% year-over-year to $7.6 billion.
  • HIV product sales increased 12% to $5.7 billion driven by higher average realized price and demand.
  • Significant clinical progress featuring three FDA approvals and three positive Phase 3 updates.
Key risks
  • Significant acquired IPR&D and tax expenses of $11.2 billion impacting GAAP and Non-GAAP diluted loss per share.
  • Ongoing competitive headwinds and in- and out-of-class competition driving down Cell Therapy product sales.
  • Uncertainty around the amount and timing of Veklury revenues given lower COVID-19-related hospitalizations.
Topic velocity

Language versus prior quarter

M&ANew
CostNew
ChinaNew
MarginNew
RecordNew
iPhoneNew
Signal composition

What drove the EarnIQ score

Tone+20
Eps Beat+0
Guidance+15
New Signal+8
Miss Penalty+0
Qoq Improvement+8
Deflection Penalty+0