Bill Martin, editor of FindProfit recently added Gilead Sciences Inc. (NASDAQ: GILD) to his long-term growth portfolio, and the stock has risen sharply following a strong fourth quarter report.
According to Martin, the company saw particular strength in its HIV franchise. He explains, "Gilead's HIV treatments (Viread, Truvada, Atripla, and Emtriva) were clear winners, with sales growing 67% to $642.4 million and surpassing Wall Street's expectation of $628.7 million in sales."
Although the company reported a net loss of $1.67 billion, or -$3.62 per share, for the quarter, the advisor explains that by backing out a charge of $2.04 billion for its acquisitions of Corus and Myogen, the company actually earned a profit of 78 cents per share versus 59 cents per share a year ago.
Also for the quarter, he notes that revenue jumped 48% year over year to $899.2 million. These results, he points out, "handily" beat analyst expectations of 68 cents EPS on revenue of $850.9 million.
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