Gilead Sciences shares rose sharply in after-hours trading on Wednesday after the company reported second quarter results which surpassed analyst forecasts. The biotech company posted profits of $2.23 a share, far higher than the $1.79 analysts had been expecting. Revenue came in at $6.53 billion, that was also better than estimates. Gilead reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago because of its Sovaldi sales. Sovaldi helps cure Hepatitis C in people with HIV. It was prescribed to over 800,000 patients since its launch in December, generating almost half of the company’s sales. The Street's Kathryn Mykleseth reports from New York.
Stocks in this video: