Gilead's second quarter revenue grew 10% to $7.8B, beating estimates, but reported a larger-than-expected loss on acquisition charges.

Gilead Sciences reported second quarter 2026 revenue of $7.8 billion, a 10% increase year-over-year, driven by strong performance in its core business. However, the company posted a significant GAAP diluted loss of $(8.45) per share, primarily due to $11.2 billion in acquired in-process research and development (IPR&D) charges related to recent acquisitions.

Key Highlights

• Product sales excluding Veklury grew 10% year-over-year to $7.6 billion, highlighting the strength of the underlying business.
• The HIV franchise remained a key growth driver, with product sales increasing 12% to $5.7 billion, led by Biktarvy sales of $3.8 billion.
• Oncology drug Trodelvy saw sales increase 26% to $457 million, reflecting higher demand.
• The reported GAAP loss of $(8.45) per share was primarily driven by a $(9.08) per share impact from IPR&D expenses and related taxes from the acquisitions of Arcellx, Tubulis, and Ouro Medicines.