EarningsQ2 2026 Earnings Report
MX:GILD Q2 2026 EPS Results
Actual EPS-$114.63
Consensus EPS-$123.07
Beat/MissBeat by +$8.44
One Year Ago EPS$34.13
MX:GILD Q2 2026 Revenue Results
Actual Revenue$132.82B
Expected Revenue$125.65B
Beat/MissBeat by +$7.17B
YoY Revenue Growth+10.73%
Earnings Announcement Details
QuarterQ2 2026
Date08/04/2026
TimeAfter Close
Conference CallTuesday, August 4, 2026
MX:GILD Upcoming Earnings
Gilead Sciences's next earnings date is estimated for October 22, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:GILD Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call portrays a fundamentally strong commercial and clinical performance: robust top-line growth across the base business (notably HIV/PrEP, Trodelvy, Livdelzi), meaningful pipeline and regulatory catalysts ahead, and strategic acquisitions that expand oncology and cell therapy capabilities. These positives are offset in reported results by very large one-time acquired IPR&D charges and related tax effects that drove a large negative reported operating margin and headline EPS losses, along with near-term pressures in cell therapy and reduced COVID product sales. On an underlying basis (excluding acquisition accounting), margins, illustrative EPS and organic growth are healthy and guidance was raised for base business and HIV. Overall the message is strategically constructive but temporarily clouded in reported GAAP/non‑GAAP metrics by transaction-related charges.Company Guidance
Base Business and Total Product Sales Growth
Base business sales of $7.6B increased 10% year-over-year (strongest Q2 growth in 3 years) and were up 12% sequentially. Total product sales (including Veklury) were $7.6B, up 8% year-over-year and up 10% sequentially.
HIV Franchise Strength and Guidance Raise
HIV sales were $5.7B, up 12% year-over-year and 13% sequentially. Strong performance driven by Biktarvy, Descovy and Yeztugo. Company raised full-year HIV growth guidance to 9%–10% from prior 8%.
PrEP Business Expansion — Run Rate and Quarterly Milestone
PrEP sales doubled year-over-year, exceeding $1.0B for the quarter (first time) and operating at a ~$4.0B annual run rate. Yeztugo Q2 sales were $232M (up 40% sequentially) with >70% 6-month persistency; full-year Yeztugo target ~ $1.0B. Descovy PrEP sales ≈ $801M, up 60% year-over-year and 23% sequentially.
Oncology Momentum — Trodelvy Growth and Approvals
Trodelvy sales of $457M were up 26% year-over-year and 13% sequentially. Received additional FDA approvals for first-line metastatic triple-negative breast cancer across PD-L1 status; Trodelvy approaching a multi‑billion dollar run rate (~$2B annual run-rate referenced).
Liver Disease Performance and New Launch
Livdelzi sales of $167M more than doubled year-over-year and rose 26% sequentially; liver disease sales overall $877M, up 10% year-over-year. Hepcludex (first FDA‑approved treatment for chronic HDV) launched in the U.S.
Clinical and Pipeline Progress — Multiple Positive Readouts
Quarter included 3 positive Phase III readouts and 2 commercial launches YTD. Positive Phase III IDEAL results for Livdelzi and positive Phase III ISLEND-1/2 working toward a once‑weekly oral HIV regimen (islatravir+lenacapavir). GS-8824 (TUB-040) showed a 61% confirmed ORR and median PFS ~11 months in platinum-resistant ovarian cancer.
Strategic Acquisitions and Platform Expansion
Completed acquisitions of Arcellx, Tubulis and Ouro Medicines to add differentiated cell therapy (D-Domain binder), next-gen ADC platform, and oral medicines — expanding oncology and cell therapy capabilities and enabling full control of anito-cel.
Operational Metrics and Financial Leverage (Excluding Purchase Accounting)
Excluding acquired IPR&D charges, operating margin was ~49% and illustrative non-GAAP diluted EPS (excluding acquisition charges and nonrecurring other revenue) was $2.27 for the quarter. Illustrative EPS grew ~13% year-over-year for Q2 and 1H.
MX:GILD Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed