“Altogether, we've raised our earnings per share guidance to a range of $4.25 and $4.45.”

In context

“cline a low single-digit percentage as compared to our prior outlook of low-to-mid single-digit growth, reflecting the discontinuation of certain programs and careful expense management. And there is no change to our prior expectations for both acquired IPR&D and SG&A. Reflecting these updates, we now expect operating income in the range of $8 billion to $8.3 billion, up from $7.2 billion to $7.6 billion previously. Full-year tax is expected to be approximately 27%, slightly lower than our prior 30% guidance, and reflecting the higher operating income for the full year as well as the negative impact from the one-time charge for the acquisition of CymaBay in the first quarter. As a reminder, this compares to our initial guidance in February of approximately 19% prior to the CymaBay impact. Altogether, we've raised our earnings per share guidance to a range of $4.25 and $4.45. This compares to our prior guidance of $3.60 to $3.90, and reflects both revenue outperformance and continued operating expense discipline. At the midpoints, our updated guidance represents an increase of $750 million in non-GAAP operating income and an increase of $0.60 in non-GAAP earnings per share. On a GAAP basis, EPS is expected to be $0.05 to $0.25. Moving to Slide 30, we returned $1.3 billion to shareholders in the third quarter and a total of $3.7 billion in the first nine months of the year. Our capital allocation priorities remain unchanged with significant balance sheet flexibility. Overall, Gilead is on track to deliver an extremely strong 2024, and we're particularly pleased with our progress on operating expense management, which we believe sets us up well as we enter 2025.”