Shares of Gilead Sciences Inc. rallied in Tuesday's extended trade after the biotechnology giant turned in quarterly results that far exceeded expectations. Gilead reported its second-quarter earnings rose to $4.49 billion, or $2.92 a share, from $3.66 billion, or $2.20 a share, a year earlier. On an adjusted basis, Gilead earned $3.15 a share, ahead of analysts' estimate of $2.71 a share. Revenue grew to $8.24 billion from $6.54 billion. Analysts surveyed by FactSet had expected revenue of $7.6 billion. The company also raised its full-year 2015 revenue outlook to a range of $29 billion to $30 billion. Gilead shares were up 4.8% to $115.87.
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