: Gilead stock rises on top-, bottom-line beats

Gilead Sciences Inc.’s GILD stock climbed 2% in extended trading Tuesday after the pharmaceutical company reported quarterly results that topped analyst revenue and earnings estimates. Gilead reported fiscal third-quarter net income of $2.18 billion, or $1.73 a share, compared with net income of $1.79 billion, or $1.42 a share, in the same quarter a year earlier. Adjusted earnings were $2.29 a share. Revenue was $7.05 billion, up from $7.04 billion a year ago. Analysts surveyed by FactSet had expected on average net income of $1.92 a share on revenue of $6.8 billion. Shares of Gilead have shed 6% this year, while the broader S&P 500 index SPX has increased 14%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.