Why Gilead Sciences Stock Is Jumping Today

Shares of Gilead Sciences (NASDAQ: GILD) were jumping 7.9% higher on Wednesday at 11:34 a.m. The solid gain came after the big biotech company announced its 2024 fourth-quarter and full-year financial results following market close on Tuesday.

Gilead reported fourth-quarter revenue of $7.6 billion, up 6% year over year. It posted earnings per share (EPS) of $1.42 based on generally accepted accounting principles (GAAP), reflecting a year-over-year increase of roughly 25%. The company's non-GAAP (adjusted) EPS rose roughly 10.5% year over year to $1.90, handily beating the consensus Wall Street estimate of $1.70 per share.

Investors had even more to cheer about with Gilead's Q4 update. The company provided upbeat full-year 2025 guidance. Gilead expects significantly higher earnings, projecting non-GAAP diluted EPS of between $7.70 and $8.10, compared to $4.62 for full-year 2024. The acquisition of CymaBay and higher income tax expense weighed on earnings last year.

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Source Fool.com