Gilead quarterly results beat Street estimates as profit up on lower taxes

By Deena Beasley

(Reuters) – Drugmaker Gilead Sciences on Tuesday said third-quarter sales were little changed from a year earlier, but earnings rose 21% due mainly to lower taxes.

The Foster City, California-based company reported a quarterly profit of $2.29 per share excluding items, on total revenue of $7.1 billion, up from $1.90 a share on revenue of just over $7 billion in the year-ago quarter.

Wall Street analysts had expected an adjusted profit of $1.92 per share on revenue of $6.8…