Gilead Sciences (GILD) Q2 FY2026 earnings: revenue $7.8 billion, up 10.2% on the year

Gilead Sciences, Inc. (GILD) reported revenue of $7.8 billion for Q2 FY2026, the quarter ended 30 June 2026, up 10.2% on the same quarter a year earlier. Net income was -$10.5 billion, and diluted earnings per share $-8.45. The figures are the company's own, from the 10-Q it filed with the SEC on 6 August 2026.

Revenue

$7.8 billion

+10.2% on the year · +12.1% on the quarter

Q3 FY2024Q2 FY2026

Operating margin

-133.2%

34.9% a year earlier

Q3 FY2024Q2 FY2026

Net income

-$10.5 billion

Q3 FY2024Q2 FY2026

Diluted EPS

-$8.45

Q3 FY2024Q2 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 3 raised, 4 lowered, 1 narrowed, 1 kept.

Revenue rose 10% on base business: Total revenues rose 10% to $7.8 billion, with the company citing higher HIV, Trodelvy and Livdelzi sales, partly offset by lower Veklury, Cell Therapy and HCV sales, plus royalty and other revenue from a prior IP sale.
Diluted loss reflects acquired IPR&D: Diluted loss per share was $(8.45) against $1.56 a year earlier; the company attributed the decrease mainly to $(9.08) per share of acquired IPR&D expenses tied to Arcellx, Tubulis and Ouro Medicines.
HIV sales up 12%: HIV product sales rose 12% to $5.7 billion, which the company attributed to higher average realized price and demand.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Revenue	7,803	6,960	7,082	+12.1%	+10.2%
Cost of revenue	1,579	1,445	1,501	+9.3%	+5.2%
Gross profit	6,224	5,515	5,581	+12.9%	+11.5%
Gross margin	79.8%	79.2%	78.8%
Research and development	1,764	1,372	1,491	+28.6%	+18.3%
Selling, general and administrative	1,921	1,451	1,365	+32.4%	+40.7%
Operating income	-10,394	2,586	2,474
Operating margin	-133.2%	37.2%	34.9%
Interest expense	247	240	254	+2.9%	-2.8%
Pre-tax income	-10,254	2,580	2,429
Income tax	242	559	468	-56.7%	-48.3%
Effective tax rate	n/a	21.7%	19.3%
Net income	-10,496	2,021	1,960
Net margin	-134.5%	29.0%	27.7%
Diluted EPS	-$8.45	$1.61	$1.56

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Operating cash flow	3,573	2,544	827	+40.4%	+332.0%
Capital expenditure	140	117	107	+19.7%	+30.8%
Free cash flow	3,433	2,427	720	+41.5%	+376.8%
Free cash flow margin	44.0%	34.9%	10.2%
Cash from investing	-10,347	1,770	-2,116
Cash from financing	2,344	-4,239	-1,567
Share-based compensation	231	218	225	+6.0%	+2.7%
Buybacks	355	419	527	-15.3%	-32.6%
Dividends paid	1,029	1,040	994	-1.1%	+3.5%
Dividend per share	$0.82	$0.82	$0.79	0.0%	+3.8%
Diluted shares, weighted	1,243m	1,254m	1,255m	-0.9%	-1.0%
Shares outstanding at period end	1,241m	1,242m	1,242m	-0.1%	-0.1%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Shareholders' equity	11,829	23,515	19,674	-49.7%	-39.9%
Non-controlling interest	-84.0	-84.0	-84.0
Debt	26,246	22,174	24,946	+18.4%	+5.2%
Other liabilities	11,371	10,673	11,185	+6.5%	+1.7%
Total liabilities and equity	49,362	56,278	55,721	-12.3%	-11.4%
Fixed assets	5,833	5,638	5,459	+3.5%	+6.9%
Goodwill	8,314	8,314	8,314	0.0%	0.0%
Intangible assets	14,032	16,382	18,566	-14.3%	-24.4%
Investments	0.0	998	1,982
Cash and equivalents	3,179	7,628	5,144	-58.3%	-38.2%
Receivables	5,055	4,741	4,781	+6.6%	+5.7%
Inventory	1,953	1,914	1,825	+2.0%	+7.0%
Other assets	10,996	10,663	9,650	+3.1%	+13.9%
Total assets	49,362	56,278	55,721	-12.3%	-11.4%

Questions

What was Gilead Sciences' revenue in Q2 FY2026?

Gilead Sciences (GILD) reported revenue of $7.8 billion for Q2 FY2026, the quarter ended 30 June 2026, up 10.2% on the same quarter a year earlier.

How much did Gilead Sciences earn in Q2 FY2026?

Net loss for Q2 FY2026 was $10.5 billion, and the diluted loss per share $8.45.

When did Gilead Sciences report Q2 FY2026 results?

Gilead Sciences filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 6 August 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022 †	Q2 FY2022	Q3 FY2022	Q4 FY2022 * †	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	7,244	6,590	6,260	7,042	7,389	6,352	6,599	7,051	7,114	6,686	6,954	7,545	7,569	6,667	7,082	7,769	7,925	6,960	7,803	8,300
Cost of revenue	2,627	1,424	1,442	1,395	1,396	1,401	1,442	1,565	2,090	1,552	1,544	1,574	1,581	1,540	1,501	1,569	1,624	1,445	1,579	1,571
Gross profit	4,617	5,166	4,818	5,647	5,993	4,951	5,157	5,486	5,024	5,134	5,410	5,971	5,988	5,127	5,581	6,200	6,301	5,515	6,224	6,729
Gross margin	64%	78%	77%	80%	81%	78%	78%	78%	71%	77%	78%	79%	79%	77%	79%	80%	80%	79%	80%	81%
R&D	2,027	1,178	1,102	1,149	1,548	1,447	1,407	1,457	1,407	1,520	1,351	1,395	1,641	1,379	1,491	1,346	1,583	1,372	1,764	1,608
SG&A	1,650	1,083	1,357	1,213	2,020	1,319	1,849	1,315	1,607	1,375	1,377	1,433	1,906	1,258	1,365	1,357	1,794	1,451	1,921	1,641
Operating income	940	197	2,029	2,837	2,267	1,705	1,665	2,623	1,612	-4,322	2,644	888	2,452	2,237	2,474	3,327	1,984	2,586	-10,394	3,462
Operating margin	13%	3%	32%	40%	31%	27%	25%	37%	23%	-65%	38%	12%	32%	34%	35%	43%	25%	37%	-133%	42%
Interest expense	238	238	242	229	226	230	230	232	252	254	237	238	248	260	254	256	254	240	247	269
Pre-tax income	759	-152	1,503	2,432	2,031	1,300	1,588	2,318	1,653	-4,486	2,053	956	2,167	1,649	2,429	3,641	2,077	2,580	-10,254	3,063
Tax rate	50%	n/a	24%	27%	20%	24%	35%	6%	14%	n/a	21%	-31%	18%	20%	19%	16%	-5%	22%	n/a	21%
Net income	382	19.0	1,144	1,789	1,640	1,010	1,045	2,180	1,430	-4,170	1,614	1,253	1,783	1,315	1,960	3,052	2,183	2,021	-10,496	2,429
Net margin	5%	0%	18%	25%	22%	16%	16%	31%	20%	-62%	23%	17%	24%	20%	28%	39%	28%	29%	-135%	29%
Diluted EPS	$0.30	$0.02	$0.91	$1.42	$1.30	$0.80	$0.83	$1.73	$1.14	-$3.34	$1.29	$1.00	$1.42	$1.04	$1.56	$2.43	$1.74	$1.61	-$8.45	$1.94
Operating cash flow	3,205	1,840	1,802	2,863	2,567	1,744	2,338	1,755	2,169	2,219	1,325	4,309	2,975	1,757	827	4,108	3,327	2,544	3,573	5,035
Capital expenditure	156	247	143	157	181	109	139	122	215	105	130	141	147	104	107	147	205	117	140	237
Free cash flow	3,049	1,593	1,659	2,706	2,386	1,635	2,199	1,633	1,954	2,114	1,195	4,168	2,828	1,653	720	3,961	3,122	2,427	3,433	4,798
Buybacks	49.0	352	72.0	180	792	400	150	300	150	400	100	300	350	730	527	435	230	419	355	370
Dividends paid	894	945	920	929	915	969	944	953	943	990	972	983	973	1,010	994	1,005	994	1,040	1,029	1,039
Shares outstanding	1,254m	1,255m	1,254m	1,254m	1,247m	1,248m	1,247m	1,247m	1,246m	1,246m	1,246m	1,246m	1,246m	1,245m	1,242m	1,242m	1,241m	1,242m	1,241m	1,241m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 June 2026, filed 6 August 2026: the filing.