FOSTER CITY, Calif. (AP) _ Gilead Sciences Inc. (GILD) on Tuesday reported fourth-quarter net income of $2.7 billion.
On a per-share basis, the Foster City, California-based company said it had profit of $2.12. Earnings, adjusted for one-time gains and costs, came to $1.30 per share.
The results fell short of Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.68 per share.
The HIV and hepatitis C drugmaker posted revenue of $5.88 billion in the period, which beat Street forecasts. Eight analysts surveyed by Zacks expected $5.73 billion.
Gilead expects full-year earnings in the range of $6.05 to $6.45 per share.
Gilead shares have climbed roughly 4% since the beginning of the year, while the Standard & Poor's 500 index has climbed 2%. In the final minutes of trading on Tuesday, shares hit $67.30, a decline of almost 4% in the last 12 months.