HIV Drugs Drive Gilead

Net income jumps 55% and revenue surges 63%.
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Gilead Sciences

(GILD) - Get Report

reported a 55% increase in third-quarter profit, thanks to sales of its HIV drugs.

The California company had net income of $113.2 million, or 25 cents a share, compared to net income of $73.1 million, or 17 cents a share, a year ago.

Revenue rose 63% to $326.2 million.

Analysts expected the company to earn 21 cents a share, according to Thomson First Call.

HIV product sales were $228.1 million during the third quarter of 2004, up from $121.4 million.

Shares fell $1.13, or 3%, to $36.68 in after-hours trading.