Gilead Sciences on Tuesday reported second-quarter earnings of $4.49 billion.
On a per-share basis, the Foster City, California-based company said it had profit of $2.92. Earnings, adjusted for costs related to mergers and acquisitions and stock option expense, came to $3.15 per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $2.64 per share.
The HIV and hepatitis C drugmaker posted revenue of $8.24 billion in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $7.36 billion.
Gilead expects full-year earnings in the range of 82 cents to 87 cents per share.
Gilead shares have increased 20 percent since the beginning of the year, while the Standard & Poor's 500 index has increased nearly 2 percent. In the final minutes of trading on Tuesday, shares hit $112.69, a rise of 23 percent in the last 12 months.