Walgreens beats expectations in 3Q earnings report
Walgreens Boots Alliance Inc. on Thursday reported fiscal third-quarter earnings of $1.34 billion, beating Wall Street expectations.
The Deerfield, Illinois-based company said it had net income of $1.35 per share. Earnings, adjusted for one-time gains and costs, came to $1.53 per share.
The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.47 per share. The chain posted revenue of $34.33 billion in the period, which also topped Street forecasts or $33.65 billion, according to Zacks.
The report from the U.S.' largest drugstore chain comes two days after Walgreens Boots Alliance took GE's place in the Dow Jones industrial average.
Walgreens expects full-year earnings in the range of $5.90 to $6.05 per share.
Walgreens shares were down more than 9 percent in premarket trading on Thursday on news that Amazon planned to buy the online pharmacy PillPack. Walgreens stock had decreased 14 percent in the last 12 months.