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Gilead (GILD Quote) exceeded analysts' third-quarter top- and bottom-line expectations as sales of its HIV-fighting drugs surpassed estimates, and the company announced an accelerated $750 million share-buyback plan.
The stock closed up $3.11, or 8.1%, at $41.39 on Thursday in anticipation of the third-quarter earnings. After the numbers were disclosed, Gilead added another 3.3%.
The company said it earned $504 million, or 52 cents a share, in the quarter, compared with $398.3 million, or 42 cents a share, in the year-ago period. Factoring out certain items, the company reported a profit of 55 cents a share, up from 45 cents a share a year earlier. Revenue rose 30% to $1.37 billion. ...
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