Earnings Scorecard: Wave of revenue wins for healthcare firms this week
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The healthcare sector reported strong quarterly earnings this week, with 20 companies posting results. Notably, Viatris exceeded expectations with $3.58 billion in revenue, while Gilead Sciences raised its sales forecast due to increased demand for HIV products. Eli Lilly also surpassed estimates, reporting a 38% revenue increase to $15.56 billion. Overall, 56 out of 60 healthcare firms have reported, with only one missing earnings estimates. The Health Care Select Sector SPDR Fund ETF (XLV) has seen a decline of over 9% this quarter, contrasting with a 13% rise in the S&P 500 index.
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