Gilead Sciences shares tumbled 5.12% in after-hours trading following the release of its fourth-quarter financial results. The biopharmaceutical company reported earnings that exceeded analyst expectations but provided full-year guidance that fell short of Wall Street estimates.

The company posted adjusted earnings of $1.86 per share for the fourth quarter, beating the consensus estimate of $1.81. Revenue rose 5% to $7.93 billion, also surpassing the $7.69 billion analysts had anticipated. The growth was driven by higher sales of HIV and liver disease products, though partially offset by declining sales of the COVID-19 antiviral Veklury.

Despite the strong quarterly performance, investors focused on Gilead's 2026 outlook. The company forecast adjusted earnings of $8.45 to $8.85 per share, with the midpoint below the analyst consensus of $8.74. Product sales guidance of $29.6 billion to $30.0 billion also came in slightly below expectations. The company cited a pricing agreement with the Trump administration and uncertainty around Affordable Care Act insurance coverage as factors in trimming its sales growth outlook by about 2%.