Gilead: Q1 Earnings Snapshot

FOSTER CITY, Calif. (AP) _ Gilead Sciences Inc. (GILD) on Thursday reported first-quarter net income of $1.73 billion.

On a per-share basis, the Foster City, California-based company said it had net income of $1.37. Earnings, adjusted for non-recurring costs, came to $2.08 per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.06 per share.

The HIV and hepatitis C drugmaker posted revenue of $6.42 billion in the period, missing Street forecasts. Six analysts surveyed by Zacks expected $6.78 billion.

Gilead expects full-year earnings in the range of $6.75 to $7.45 per share.

Gilead shares have climbed almost 10% since the beginning of the year, while the S&P's 500 index has increased 12%. In the final minutes of trading on Thursday, shares hit $63.84, a decline of 23% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GILD at https://www.zacks.com/ap/GILD