GILD Q2 2023 Earnings Report — Gilead Sciences, Inc. Revenue & Financial Results | Market Cap Arena

Gilead Sciences, Inc.GILD

Q2 2023 Earnings

Reported August 4, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2023	Q1 2023	Q2 2022	QoQ Change	YoY Change
Revenue	$6.6B	—	$6.3B	—	5.4%
Op. Income	$1.7B	—	$2.0B	—	-17.9%
Gross Margin	78.1%	—	77.0%	—	1.2pp
Net Margin	15.8%	—	18.3%	—	-2.4pp
EPS (Diluted)	$0.83	—	$0.91	—	-8.8%
Free Cash Flow	$2.2B	—	$1.7B	—	32.5%

Revenue Flow

Item	Amount
REVENUE	$6.6B
Cost of Revenue	$1.4B
GROSS PROFIT	$5.2B
R&D Expenses	$1.4B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.8B
Other Expenses	$236M
Operating Expenses	$3.5B
Cost & Expenses	$4.9B
OPERATING INCOME	$1.7B
Interest Income	$0
Interest Expense	$230M
Other Income/Expenses	-$77M
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$549M
Net Income from Continuing Ops	$1.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.0B
D&A	$681M
EBIT	$1.8B
EBITDA	$2.5B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$6.6B
Cost of Revenue	$1.4B
GROSS PROFIT	$5.2B
R&D Expenses	$1.4B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.8B
Other Expenses	$236M
Operating Expenses	$3.5B
Cost & Expenses	$4.9B
OPERATING INCOME	$1.7B
Interest Income	$0
Interest Expense	$230M
Other Income/Expenses	-$77M
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$549M
Net Income from Continuing Ops	$1.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.0B
D&A	$681M
EBIT	$1.8B
EBITDA	$2.5B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.0B
Depreciation & Amortization	$681M
Stock-Based Compensation	$198M
Deferred Income Tax	-$221M
Other Non-Cash Items	$310M
Change in Working Capital	$331M
OPERATING CASH FLOW	$2.3B
Capital Expenditure	-$139M
Acquisitions (Net)	-$243M
Purchases of Investments	-$645M
Sales/Maturities of Investments	$545M
Other Investing Activities	-$1M
NET CASH FROM INVESTING	-$483M
Net Debt Issuance	$0
Common Stock Repurchased	-$150M
Common Dividends Paid	-$944M
Other Financing Activities	-$33M
NET CASH FROM FINANCING	-$1.1B
FREE CASH FLOW	$2.2B
Net Change in Cash	$768M

Balance Sheet

Item	Amount
Cash & Equivalents	$5.7B
Short-Term Investments	$963M
Net Receivables	$4.2B
Inventory	$1.6B
Other Current Assets	$1.8B
TOTAL CURRENT ASSETS	$14.3B
PP&E (Net)	$5.5B
Goodwill	$8.3B
Intangible Assets	$27.7B
Long-Term Investments	$1.3B
Tax Assets	$0
Other Non-Current Assets	$5.1B
TOTAL NON-CURRENT ASSETS	$48.0B
TOTAL ASSETS	$62.3B
Account Payables	$622M
Short-Term Debt	$4.0B
Deferred Revenue	$0
Other Current Liabilities	$3.6B
TOTAL CURRENT LIABILITIES	$14.0B
Long-Term Debt	$21.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$2.1B
Other Non-Current Liabilities	$4.0B
TOTAL NON-CURRENT LIABILITIES	$27.3B
TOTAL LIABILITIES	$41.2B
Common Stock	$1M
Additional Paid-In Capital	$6.0B
Retained Earnings	$15.1B
Treasury Stock	$0
Accum. Other Comp. Income	$10M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$21.2B
Minority Interest	-$64M
TOTAL EQUITY	$21.1B
TOTAL LIABILITIES & EQUITY	$62.3B
Total Debt	$25.2B
Net Debt	$19.5B