NEW YORK (TheStreet) -- Shares of Gilead Sciences (GILD) - Get Report fell 1.77% to $111.44 in morning trading Wednesday after the biotech company reported third-quarter earnings that came up short of analysts' expectations.
Gilead reported adjusted earnings per share of $1.84, an increase from 52 cents in the third quarter one year ago. Revenue surged to $6.04 billion from $2.78 billion in the same period one year earlier.
The consensus estimate called for EPS of $1.92 on revenue of $5.99 billion.
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Gilead also updated its full-year 2014 guidance and now expects net product sales in the range of $22 million to $23 million, up slightly from its previous guidance in July of $21 million to $23 million. Gilead first issued guidance in the range of $11.3 million to $11.5 million in February.