
Gilead's Q3 2025 earnings beat EPS estimates at $2.47 (or $2.22 excluding a one-time item), and revenue was $7.3 billion, slightly below the $7.45B estimate; the company is increasing its full-year HIV revenue growth expectations to approximately 5%, while forecasting cell therapy to decline approximately 10% for the full year.
Bullish
Gilead is increasing its full-year HIV revenue growth expectations to approximately 5% despite a $900 million headwind associated with the Medicare Part D redesign.
Bearish
Cell therapy sales were down 11% year over year and sequentially due to competitive headwinds, and these headwinds are expected to continue in the near future.