8-KEarnings & ResultsExhibits & Filings

GILEAD SCIENCES, INC. 8-K Report, Financial Results (May 2, 2019)

Filed May 2, 2019For Securities:GILD

Summary

Gilead Sciences, Inc. (GILD) filed an 8-K on May 2, 2019, to report its first-quarter financial results for the period ended March 31, 2019. The press release, included as an exhibit, details both GAAP and non-GAAP financial performance. Management emphasizes the usefulness of non-GAAP measures for investors, as these metrics are utilized internally for operational, budgeting, and financial planning. Investors are encouraged to review these non-GAAP figures alongside the company's official GAAP financial statements and the provided reconciliation tables for a comprehensive understanding.

Key Highlights

  • 1Gilead Sciences announced its Q1 2019 financial results via an 8-K filing on May 2, 2019.
  • 2The filing includes a press release detailing financial performance for the quarter ended March 31, 2019.
  • 3Both GAAP and non-GAAP financial information are presented in the press release.
  • 4Management believes non-GAAP financial measures provide valuable insights for investors.
  • 5Non-GAAP measures are used internally by Gilead for operating, budgeting, and financial planning.
  • 6Investors should consider non-GAAP information in conjunction with GAAP financial statements.
  • 7Reconciliation between GAAP and non-GAAP financial information is available in the press release.

Frequently Asked Questions

The main purpose of this 8-K filing is to publicly announce Gilead Sciences' financial results for the first quarter ended March 31, 2019, and to provide the accompanying press release as an official record.

Gilead presents both GAAP and non-GAAP financial information because management believes that the non-GAAP measures offer a more useful perspective for investors to understand the company's operational performance and financial condition, as these are the metrics used internally for planning and decision-making.

The detailed financial results, including the presentation of both GAAP and non-GAAP measures along with the reconciliation between them, are provided in the press release filed as Exhibit 99.1 to this 8-K report.

No, investors should not rely solely on non-GAAP financial information. The company explicitly states that these measures should be used to supplement an understanding of Gilead's operating results as reported under GAAP, and they are not prepared under a comprehensive set of accounting rules.