In December of last year, The Motley Fool voted Gilead stock the best for 2008. They must be feeling pretty good about their prediction since the announcement that not only has Gilead recovered from Q2 but they’ve beat Q3 revenue.
During an investor conference call, Gilead Chairman and CEO John Martin attributed the strong performance both to record product sales and “disciplined management of our expenses.” Couldn’t we all use a little disciplined management of our expenses.
Per tmcnet.com: ”Gilead reported third-quarter earnings of $504 million, or 52 cents per share, on a GAAP basis, and $534.1 million, or 55 cents per share, on a non-GAAP basis – beating analyst EPS estimates of 49 cents per share.
“Third-quarter total revenues reached a record $1.37 billion, up 30 percent over the third quarter of 2007 and beating analyst estimates of $1.32 billion.
“Product revenues also hit a record high, reaching $1.34 billion for the quarter, a 39 percent increase over the same period last year.”