Analysts expect Gilead to report fourth-quarter revenue of approximately $7.2 billion, representing a year-over-year increase of about 4%, with non-GAAP EPS forecast at $1.76. These consensus figures reflect contributions from both established franchises and newer product launches, and they compare with average quarterly revenues of $6.9 billion over the past four quarters. The Zacks Rank model currently assigns Gilead a #2 (Buy) rating based in part on these estimates, which have held steady over the last month.

Gilead’s core HIV portfolio remains the primary growth engine, led by Biktarvy, which analysts project to generate approximately $3.1 billion in Q4 sales—up nearly 10% from the year-ago period. Descovy is expected to contribute roughly $1.2 billion, marking 8% growth, while uptake of the newer once-daily long-acting therapy Yeztugo may yield an additional $150 million in revenue as prescription volumes surpass 45,000 units. Market share gains in developed markets offset pricing pressures in key European territories.

Cell therapy revenues, led by Yescarta, are anticipated to decline by 3% sequentially to around $225 million, reflecting reimbursement delays and increased competition. Management commentary will be closely watched for updates on the phase III CAR-T program for multiple myeloma, expected to report data in mid-2026, and on progress in hepatitis delta virus and NASH candidates currently in phase II. Investors will seek clarity on capital allocation plans to support these pipeline assets while managing manufacturing scale-up costs.