Gilead Sciences (GILD) Q2 2026 earnings summary

Executive summary

• Q2 2026 base business sales grew 10% year-over-year, marking the strongest Q2 growth in three years, driven by HIV, Trodelvy, and Livdelzi, while Veklury and Cell Therapy sales declined.

• HIV sales rose 12% year-over-year to $5.7 billion, with PrEP sales doubling to over $1 billion quarterly for the first time, led by Biktarvy, Descovy, and Yeztugo.

• Trodelvy sales increased 26% year-over-year to $457 million, with new first-line metastatic TNBC approvals and expanded clinical programs.

• Liver disease business delivered over 100% growth in Livdelzi sales and launched Hepcludex for HDV in the U.S.

• Multiple product launches and positive clinical milestones achieved, including three FDA approvals and three positive Phase 3 updates.

Financial highlights

• Total Q2 2026 product sales (excluding Veklury) reached $7.6 billion, up 10% year-over-year; including Veklury, sales were up 8% to $7.6 billion.

• HIV sales reached $5.7 billion, up 12% year-over-year and 13% sequentially; Biktarvy sales were $3.8 billion, Descovy $967 million.

• Trodelvy sales were $457 million (up 26% year-over-year); Livdelzi sales were $167 million (more than doubled year-over-year).

• Cell therapy sales were $417 million, down 14% year-over-year but up 2% sequentially.

• Non-GAAP diluted EPS was $(6.75) due to $11.2 billion in acquired IPR&D expenses; excluding these, EPS was $2.27, up 13% year-over-year.

Outlook and guidance

• Full-year 2026 product sales expected between $30.1–$30.4 billion; excluding Veklury, $29.8–$30.1 billion (6%-7% growth year-over-year).

• Full-year HIV sales expected to grow 9%-10%, with Yeztugo targeting $1 billion in sales.

• Cell therapy sales expected to decline mid-teens percent year-over-year.

• Full-year non-GAAP EPS (excluding IPR&D and non-recurring items) raised to $8.45–$8.85.

• Veklury full-year sales guidance reduced to ~$300 million.