Gilead Sciences Shares Rise On Earnings, Revenue Beat

By Wallace WitkowskiMarketWatch Pulse

Gilead Sciences Inc. shares rose in the extended session Tuesday after the biotech topped Wall Street estimates on earnings and revenue for the quarter. Gilead shares advanced 2.2% to $84.48. The company reported adjusted fourth-quarter earnings of $3.32 on revenue of $8.51 billion. Analysts surveyed by FactSet had forecast $3 a share on revenue of $8.16 billion. Gilead forecast full-year 2016 revenue of $30 billion to $31 billion. Analysts have forecast $31.97 billion. Separately, Gilead said its board authorized an additional $12 billion in share buybacks, and a 10% dividend increase for the second quarter.

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