Gilead beats Street EPS

GILD reported second quarter GAAP diluted EPS of $0.49, beating the consensus estimate of $0.36 by $0.13 and up 7% from $0.46 in the same quarter last year. Earnings included a $1.6 million after-tax gain from the liquidation of GILD's equity position in Eyetech (EYET). Revenues increased 33% to $319.7 million from $238.9 million in the same period last year, driven by sales of Viread tenofovir and favorable currency exchange. The HIV drug posted second quarter sales of $197.2 million, up 18% quarter over quarter from $167 million in 2003. GILD attributed higher Viread sales to higher prescription volumes and a $5.8 million gain from currency exchange. ...