Gilead Sciences

Q2 FY2026 EarningsQ2 FY26 results beat revenue expectations at $7.80B vs. $7.40B consensus (+5.41%), driven by a 12% YoY surge in HIV product sales and a 26% increase in Trodelvy sales. However, the company reported a massive GAAP net loss of $10.50B, resulting in a diluted EPS of -$8.45, which significantly missed the consensus of -$7.76. This bottom-line miss was primarily due to $11.18B in acquired IPR&D expenses from the Arcellx, Tubulis, and Ouro Medicines acquisitions and a $1.75B impairment charge for Trodelvy in NSCLC. Cash from operations was a significant beat at $6.12B vs. $2.65B expected, aided by the Lakefront collaboration payment.