FOSTER CITY, Calif. (AP) 鈥� FOSTER CITY, Calif. (AP) 鈥� Gilead Sciences Inc. (GILD) on Tuesday reported a loss of $10.5 billion in its second quarter.
The Foster City, California-based company said it had a loss of $8.45 per share. Losses, adjusted for non-recurring costs, came to $6.75 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of $7.07 per share.
The HIV and hepatitis C drugmaker posted revenue of $7.8 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $7.37 billion.
Gilead expects full-year results to range from a loss of 65 cents per share to a loss of 30 cents per share.
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