GILD Q2 2018 Earnings Report — Gilead Sciences, Inc. Revenue & Financial Results | Market Cap Arena

Gilead Sciences, Inc.GILD

Q2 2018 Earnings

Reported August 6, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2018	Q1 2018	Q2 2017	QoQ Change	YoY Change
Revenue	$5.6B	$5.1B	$7.1B	11.0%	-20.9%
Op. Income	$2.3B	$2.2B	$4.3B	5.9%	-46.4%
Gross Margin	78.8%	80.3%	84.2%	-1.5pp	-5.4pp
Net Margin	32.2%	30.2%	43.0%	1.9pp	-10.9pp
EPS (Diluted)	$1.39	$1.17	$2.33	18.8%	-40.3%
Free Cash Flow	$1.3B	$2.1B	$3.4B	-38.0%	-62.5%

Revenue Flow

Item	Amount
REVENUE	$5.6B
Cost of Revenue	$1.2B
GROSS PROFIT	$4.5B
R&D Expenses	$1.2B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$980M
Other Expenses	$0
Operating Expenses	$2.2B
Cost & Expenses	$3.4B
OPERATING INCOME	$2.3B
Interest Income	$0
Interest Expense	$266M
Other Income/Expenses	-$194M
INCOME BEFORE TAX	$2.1B
Income Tax Expense	$267M
Net Income from Continuing Ops	$1.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.8B
D&A	$356M
EBIT	$2.4B
EBITDA	$2.7B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$5.6B
Cost of Revenue	$1.2B
GROSS PROFIT	$4.5B
R&D Expenses	$1.2B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$980M
Other Expenses	$0
Operating Expenses	$2.2B
Cost & Expenses	$3.4B
OPERATING INCOME	$2.3B
Interest Income	$0
Interest Expense	$266M
Other Income/Expenses	-$194M
INCOME BEFORE TAX	$2.1B
Income Tax Expense	$267M
Net Income from Continuing Ops	$1.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.8B
D&A	$356M
EBIT	$2.4B
EBITDA	$2.7B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.8B
Depreciation & Amortization	$356M
Stock-Based Compensation	$252M
Deferred Income Tax	-$37M
Other Non-Cash Items	$100M
Change in Working Capital	-$917M
OPERATING CASH FLOW	$1.6B
Capital Expenditure	-$297M
Acquisitions (Net)	$0
Purchases of Investments	-$1.6B
Sales/Maturities of Investments	$7.2B
Other Investing Activities	-$82M
NET CASH FROM INVESTING	$5.2B
Net Debt Issuance	$0
Common Stock Repurchased	-$450M
Common Dividends Paid	-$740M
Other Financing Activities	-$10M
NET CASH FROM FINANCING	-$1.2B
FREE CASH FLOW	$1.3B
Net Change in Cash	$5.6B

Balance Sheet

Item	Amount
Cash & Equivalents	$13.2B
Short-Term Investments	$12.7B
Net Receivables	$3.5B
Inventory	$859M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$32.7B
PP&E (Net)	$3.7B
Goodwill	$4.1B
Intangible Assets	$16.5B
Long-Term Investments	$5.7B
Tax Assets	$0
Other Non-Current Assets	$2.6B
TOTAL NON-CURRENT ASSETS	$32.6B
TOTAL ASSETS	$65.4B
Account Payables	$623M
Short-Term Debt	$3.0B
Deferred Revenue	$0
Other Current Liabilities	$424M
TOTAL CURRENT LIABILITIES	$10.9B
Long-Term Debt	$26.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$6.6B
TOTAL NON-CURRENT LIABILITIES	$32.7B
TOTAL LIABILITIES	$43.6B
Common Stock	$1M
Additional Paid-In Capital	$1.8B
Retained Earnings	$19.8B
Treasury Stock	$0
Accum. Other Comp. Income	$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$21.7B
Minority Interest	$62M
TOTAL EQUITY	$21.7B
TOTAL LIABILITIES & EQUITY	$65.4B
Total Debt	$29.1B
Net Debt	$15.8B