Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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

US$ in millions

3 months ended:	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Product sales	7,536)	7,515)	6,912)	6,647)	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)
Cost of goods sold	(1,581)	(1,574)	(1,544)	(1,552)	(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)
Gross profit on product sales	5,955)	5,941)	5,368)	5,095)	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)
Royalty, contract and other revenues	33)	30)	42)	39)	44)	57)	35)	46)	57)	64)	122)	56)	84)	65)	65)	83)	93)	84)	76)	81)
Research and development expenses	(1,641)	(1,395)	(1,351)	(1,520)	(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)
Acquired in-process research and development expenses	11)	(505)	(38)	(4,131)	(347)	(91)	(236)	(481)	(158)	(448)	(330)	(8)	—)	(19)	(96)	(62)	(64)	(1,171)	(4,524)	(97)
In-process research and development impairment	—)	(1,750)	—)	(2,430)	(50)	—)	—)	—)	—)	—)	—)	(2,700)	—)	—)	—)	—)	—)	—)	—)	—)
Selling, general and administrative expenses	(1,906)	(1,433)	(1,377)	(1,375)	(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)
Operating income (loss)	2,452)	888)	2,644)	(4,322)	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)
Interest expense	(248)	(238)	(237)	(254)	(252)	(232)	(230)	(230)	(226)	(229)	(242)	(238)	(238)	(250)	(256)	(257)	(267)	(236)	(240)	(241)
Other income (expense), net	(37)	306)	(354)	90)	293)	(73)	153)	(175)	(10)	(176)	(284)	(111)	57)	(154)	(173)	(369)	(570)	(940)	250)	(158)
Income (loss) before income taxes	2,167)	956)	2,053)	(4,486)	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)
Income tax (expense) benefit	(384)	297)	(439)	316)	(236)	(146)	(549)	(315)	(398)	(646)	(368)	164)	(383)	(852)	(300)	(542)	(270)	(472)	(373)	(465)
Net income (loss)	1,783)	1,253)	1,614)	(4,170)	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)
Net loss attributable to noncontrolling interest	—)	—)	—)	—)	13)	8)	6)	25)	7)	3)	9)	7)	6)	6)	5)	7)	7)	7)	7)	13)
Net income (loss) attributable to Gilead	1,783)	1,253)	1,614)	(4,170)	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)

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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 2024 to Q3 2024 and from Q3 2024 to Q4 2024.
Operating income (loss)	The net result for the period of deducting operating expenses from operating revenues.	Gilead Sciences Inc. operating income (loss) decreased from Q2 2024 to Q3 2024 but then increased from Q3 2024 to Q4 2024 not reaching Q2 2024 level.
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 decreased from Q2 2024 to Q3 2024 but then increased from Q3 2024 to Q4 2024 exceeding Q2 2024 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 decreased from Q2 2024 to Q3 2024 but then increased from Q3 2024 to Q4 2024 exceeding Q2 2024 level.

Gilead Sciences Inc. (NASDAQ:GILD)

Income StatementQuarterly Data

Income Statement
Quarterly Data