' sales fell 10% in the second quarter from a year earlier as demand fell for some of its drugs because of the coronavirus pandemic.
Gilead's total product sales slid 10% to $5.1 billion in the second quarter, down from $5.6 billion a year ago and less than the $5.31 billion analysts expected. The company reported adjusted earnings of $1.11 per share, lower than the $1.45 per share projected by analysts surveyed by Refinitiv. "The impact of COVID-19 on Gilead's business continues to be subject to a high degree of uncertainty given unpredictable dynamics related to the incidence, spread and efforts to treat COVID-19 around the world," the company wrote in its earnings release.
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