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Gilead gains on Q4 beat; raises dividend, sets $12B buyback
Feb 2 2016, 16:14 ET | About: Gilead Sciences, Inc. (GILD) | By: Jason Aycock, SA News Editor Contact this editor with comments or a news tip
Gilead Sciences (NASDAQ:GILD) is up 1.7% after hours as it posted solid beats on the top and bottom line and authorized a new $12B stock repurchase plan.Revenues were up 16.4% for the quarter and up 31% to $32.2B for the full year. EPS rose 56% for the full year, to $12.61.Antiviral product sales came to $7.9B, up from $6.7B mainly due to launching HCV products in Japan and continuing rollouts in Europe despite a decline in the U.S.Other product sales (including Letairis, Ranexa, AmBisome) came to $523M, up from $496M.Cash and equivalents at year end was $26.2B.Along with bumping its quarterly dividend by 10% starting in Q2, it declared a new $12B buyback program to commence at the close of its $15B program, authorized last January.