During after-hours trading on July 26, biotechnology pharmaceutical company Gilead Sciences Inc.’s (NASDAQ:$GILD) stock went up by 2.6% to reach $76.10. The rise was largely due to Gilead Sciences’ release of its second quarter earnings report. Both adjusted earnings and revenue surpassed average analysts’ expectations.

In its second quarter, Gilead Sciences saw a net income of $3.37 billion, a bit down when compared to the $4.18 billion the company saw in 2016’s second quarter. Adjusted earnings were $2.56 per share, beating the average analysts expectation of an earnings per share of $2.29. Second quarter revenue for the company was $7.14 billion; while this was less than the $7.78 billion in revenue Gilead Sciences saw in 2016’s second quarter, the 2017 second-quarter revenue still surpassed analyst expectations of about $6.33 billion.

The company saw a rather weak first quarter of 2017, hence low analyst estimates, so the fact that it was able to recover and get back on track is a good sign. Since it was founded in 1987, Gilead has primarily focused on antiviral drugs used to treat HIV, hepatitis B, hepatitis C and influenza. 

Overall in 2017, Gilead is expecting a total revenue of between $24 billion and $25.5 billion. The prediction is close to analysts’ expectation of $24.65 billion in total revenue in 2017.

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