Gilead Sciences (GILD) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Gilead Sciences published the results on October 29, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Gilead Sciences reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Product lines under HIV and Oncology (Biktarvy, Descovy, Yeztugo, Trodelvy, Cell Therapy) are from the revenue disaggregation note in Gilead's Form 10-Q.
• Year-ago royalty, contract and other revenues of $424 million included revenue from a previous sale of intellectual property that did not repeat in Q3 2026.
• Gilead expects a full-year 2026 loss per share because of $12.4 billion of acquired IPR&D charges from deals announced this year; Q2 2026 GAAP diluted EPS was $(8.45).

Source: Gilead Sciences Q3 2026 results, October 29, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Gilead Sciences splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Gilead Sciences's HIV revenue was $6.2 billion in Q3 2026, up 18% from $5.3 billion in Q3 2025, 75% of total revenue.
• Gilead Sciences's Liver Disease revenue was $927 million in Q3 2026, up 13% from $819 million in Q3 2025, 11% of total revenue.
• Gilead Sciences's Oncology revenue was $860 million in Q3 2026, up 9% from $788 million in Q3 2025, 10% of total revenue.
• Gilead Sciences's Other revenue was $167 million in Q3 2026, down 9% from $184 million in Q3 2025, 2% of total revenue.
• Gilead Sciences's Veklury revenue was $86.0 million in Q3 2026, down 69% from $277 million in Q3 2025, 1% of total revenue.
• Gilead Sciences's Royalty, contract and other revenues revenue was $11.0 million in Q3 2026, down 97% from $424 million in Q3 2025, under 1% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

Gilead's guidance table puts full-year 2026 product sales at $31,000 million to $31,300 million (previously $30,100 million to $30,400 million), Veklury at about $300 million, and non-GAAP diluted loss per share at $(1.20) to $(0.85).

In its Q3 2026 release, Gilead Sciences said:

“Our performance enabled us to raise our full year base business revenue guidance again this quarter, bringing the total increase to $1.6 billion since the start of 2026.”

“Our full year 2026 GAAP and non-GAAP diluted loss per share guidance includes the impact of approximately $9.88 due to acquired IPR&D charges of $12.4 billion related to the Arcellx, Tubulis, Ouro Medicines and PepStar transactions announced this year, net of the impact of the Lakefront collaboration and related taxes.”

“In October 2026, the Centers for Medicare and Medicaid Services completed the process of setting the Maximum Fair Price for Biktarvy under Medicare. The new price will be effective and impact our Biktarvy revenue starting January 1, 2028.”

Source: Gilead Q3 2026 release, Oct 29, 2026.

This is the company's own guidance as of Oct 29, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the GILD forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP total revenues and diluted EPS, each as first reported in that quarter's release. The Q2 2026 loss reflects acquired IPR&D charges.

We do not hold a confirmed date for Gilead Sciences's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 29, 2026

Gilead Sciences is mostly an HIV business. Of $8,300 million in Q3 2026 total revenues, HIV products brought in $6,249 million, up 18%, and Biktarvy alone $4,059 million. Liver Disease added $927 million, Oncology $860 million and Veklury $86 million. (Gilead Q3 2026 release, Oct 29, 2026; Gilead Form 10-Q, Q3 2026, Oct 30, 2026)

Gilead said HIV growth came from higher average realized price, higher demand in HIV prevention and favorable inventory dynamics. Descovy sales rose 49% to $1,046 million, and Yeztugo, its twice-yearly lenacapavir for HIV prevention, sold $305 million against $39 million a year earlier. (Gilead Q3 2026 release, Oct 29, 2026; Gilead Form 10-Q, Q3 2026, Oct 30, 2026)

Product sales rose 13% to $8,289 million, but total revenues grew 7% because royalty, contract and other revenues fell to $11 million from $424 million. The year-ago figure included revenue from a previous sale of intellectual property. Veklury fell 69% on lower COVID-19 hospitalization rates, and Cell Therapy fell 18% to $355 million on competitive headwinds, while Trodelvy rose 42% to $506 million. (Gilead Q3 2026 release, Oct 29, 2026)

Gilead's revenue is concentrated in the U.S. and in three wholesalers. U.S. revenues were $6,363 million of the $8,300 million total, Europe $1,065 million and the rest of the world $872 million. Historically about 90% of Gilead's U.S. gross product sales have gone to Cardinal Health, Cencora and McKesson and their specialty distributor affiliates. (Gilead Form 10-Q, Q3 2026, Oct 30, 2026)

Pricing for Gilead's biggest product will change under Medicare. In October 2026 the Centers for Medicare and Medicaid Services set the Maximum Fair Price for Biktarvy, which Gilead says will affect Biktarvy revenue starting January 1, 2028. (Gilead Q3 2026 release, Oct 29, 2026)

Gilead Sciences' GAAP diluted EPS fell to $1.94 in Q3 2026 from $2.43, while non-GAAP diluted EPS rose to $2.55 from $2.47. Gilead said the GAAP decline was driven mainly by net losses from equity securities against gains a year earlier, higher operating expenses, higher income tax expense and lower royalty, contract and other revenues. (Gilead Q3 2026 release, Oct 29, 2026)

Gilead's non-GAAP figures exclude acquisition-related amortization, other acquisition costs, restructuring, IPR&D impairments, equity securities gains and losses, and discrete tax items. In Q3 2026 that meant adding back $587 million of acquisition-related amortization and a $164 million loss from equity securities to pre-tax income. Acquired IPR&D, $18 million in the quarter, is not excluded. (Gilead Q3 2026 release, Oct 29, 2026)

The effective tax rate was 20.7% against 16.2% a year earlier, which Gilead attributed to a prior-year settlement with a tax authority and remeasurement of deferred tax liabilities. Diluted shares were 1,251 million against 1,254 million. Gilead paid $1.0 billion of dividends and repurchased $370 million of stock in the quarter. (Gilead Q3 2026 release, Oct 29, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Gilead Sciences gives full-year guidance in its release and updates it each quarter. On October 29, 2026 it raised full-year 2026 product sales guidance to $31,000 million to $31,300 million, from $30,100 million to $30,400 million, and product sales excluding Veklury to $30,700 million to $31,000 million. Veklury guidance stayed at about $300 million. (Gilead Q3 2026 release, Oct 29, 2026)

Gilead guides to a full-year loss per share: GAAP $(4.40) to $(4.05) and non-GAAP $(1.20) to $(0.85), both lower than in August. Gilead said that includes about $9.88 per share from $12.4 billion of acquired IPR&D charges tied to the Arcellx, Tubulis, Ouro Medicines and PepStar transactions. (Gilead Q3 2026 release, Oct 29, 2026)

A consensus figure is the average of the models published by the analysts who cover Gilead Sciences, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Gilead Sciences's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning GILD is on is GILD a buy or a sell?, what analysts expect next is on the GILD forecast, and what the company does is on the Gilead Sciences (GILD) stock page.

Every number on this page can be traced to a document Gilead Sciences published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.