Gilead Reports Another Solid Quarter (GILD, BMY)

Last night Gilead (ticker: GILD) beat expectations once again. The results were driven by strong Truvada sales and royalties on its anti-influenza drug Tamiflu. Gilead reported EPS of $0.54, excluding a one-time tax benefit, on total revenue of $609.3 million. According to Yahoo, The Street was expecting $0.52 per share on $585.1 million in sales. The company has exceeded expectations on both the top and bottom lines over the past five quarters.

Despite the strong results, Gilead traded down in the after market on concerns over Truvada’s future growth. In other words, we saw a little “selling on the news.