Stock Analysis on Net

Gilead Sciences Inc. (NASDAQ:GILD)

Income Statement 
Quarterly Data

Gilead Sciences Inc., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Product sales 7,070 6,994 6,564 6,306 7,332 6,978 6,138 6,534 7,160 7,356 6,152 6,340 7,328 6,493 5,067 5,467 5,796 5,516 5,607 5,200
Cost of goods sold (2,090) (1,565) (1,442) (1,401) (1,396) (1,395) (1,442) (1,424) (2,627) (1,223) (1,390) (1,361) (1,398) (1,141) (1,064) (969) (1,683) (1,035) (1,000) (957)
Gross profit on product sales 4,980 5,429 5,122 4,905 5,936 5,583 4,696 5,110 4,533 6,133 4,762 4,979 5,930 5,352 4,003 4,498 4,113 4,481 4,607 4,243
Royalty, contract and other revenues 44 57 35 46 57 64 122 56 84 65 65 83 93 84 76 81 83 88 78 81
Research and development expenses (1,407) (1,457) (1,407) (1,447) (1,548) (1,149) (1,102) (1,178) (2,027) (1,147) (1,134) (1,055) (1,578) (1,158) (1,299) (1,004) (1,099) (1,030) (995) (931)
Acquired in-process research and development expenses (347) (91) (236) (481) (158) (448) (330) (8) (19) (96) (62) (64) (1,171) (4,524) (97) (800) (3,960) (165) (126)
In-process research and development impairment (50) (2,700)
Selling, general and administrative expenses (1,608) (1,315) (1,849) (1,318) (2,020) (1,213) (1,357) (1,083) (1,650) (1,190) (1,351) (1,055) (1,730) (1,106) (1,239) (1,076) (1,204) (1,052) (1,095) (1,030)
Operating income (loss) 1,612 2,623 1,665 1,705 2,267 2,837 2,029 197 940 3,842 2,246 2,890 2,651 2,001 (2,983) 2,402 1,093 (1,473) 2,430 2,237
Interest expense (252) (232) (230) (230) (226) (229) (242) (238) (238) (250) (256) (257) (267) (236) (240) (241) (243) (250) (248) (254)
Other income (expense), net 293 (73) 153 (175) (10) (176) (284) (111) 57 (154) (173) (369) (570) (940) 250 (158) 1,051 222 228 367
Income (loss) before income taxes 1,653 2,318 1,588 1,300 2,031 2,432 1,503 (152) 759 3,438 1,817 2,264 1,814 825 (2,973) 2,003 1,901 (1,501) 2,410 2,350
Income tax (expense) benefit (236) (146) (549) (315) (398) (646) (368) 164 (383) (852) (300) (542) (270) (472) (373) (465) 788 333 (535) (382)
Net income (loss) 1,417 2,172 1,039 985 1,633 1,786 1,135 12 376 2,586 1,517 1,722 1,544 353 (3,346) 1,538 2,689 (1,168) 1,875 1,968
Net loss attributable to noncontrolling interest 13 8 6 25 7 3 9 7 6 6 5 7 7 7 7 13 7 3 5 7
Net income (loss) attributable to Gilead 1,430 2,180 1,045 1,010 1,640 1,789 1,144 19 382 2,592 1,522 1,729 1,551 360 (3,339) 1,551 2,696 (1,165) 1,880 1,975

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Income statement item Description The company
Product sales Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Gilead Sciences Inc. product sales increased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Operating income (loss) The net result for the period of deducting operating expenses from operating revenues. Gilead Sciences Inc. operating income (loss) increased from Q2 2023 to Q3 2023 but then decreased significantly from Q3 2023 to Q4 2023.
Income (loss) before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Gilead Sciences Inc. income (loss) before income taxes increased from Q2 2023 to Q3 2023 but then slightly decreased from Q3 2023 to Q4 2023 not reaching Q2 2023 level.
Net income (loss) attributable to Gilead The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Gilead Sciences Inc. net income (loss) attributable to Gilead increased from Q2 2023 to Q3 2023 but then slightly decreased from Q3 2023 to Q4 2023 not reaching Q2 2023 level.