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Gilead Sciences Q4 Profit Misses Estimates

Gilead Sciences, Inc. (GILD) reported fourth-quarter non-GAAP net income per share of $1.30, compared to $1.44, a year ago. On average, 24 analysts polled by Thomson Reuters expected the company to report profit per share of $1.67, for the quarter. Analysts' estimates typically exclude special items.

Fourth-quarter total revenues were $5.9 billion compared to $5.8 billion, last year. Analysts expected revenue of $5.71 billion for the quarter. Total product sales were $5.8 billion, compared to $5.7 billion, prior year. HIV product sales were $4.6 billion compared to $4.1 billion, last year.

For full year 2020, the company projects: non-GAAP earnings per share in a range of $6.05 - $6.45; and product sales in a range of $21.80 billion to $22.20 billion. Analysts polled by Thomson Reuters expect the company to report profit per share of $7.01.

Gilead Sciences also announced its Board has declared an increase of 8% in the quarterly cash dividend, beginning in the first quarter of 2020. The increase will result in a quarterly dividend of $0.68 per share of common stock. The dividend is payable on March 30, 2020, to stockholders of record at the close of business on March 13, 2020.

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