Walgreens beats 3Q profit forecasts

AP News
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Posted: Jul 09, 2015 7:32 AM

DEERFIELD, Ill. (AP) — Walgreens Boots Alliance Inc. (WBA) on Thursday reported fiscal third-quarter net income of $1.3 billion.

The Deerfield, Illinois-based company said it had profit of $1.18 per share. Earnings, adjusted for non-recurring gains, came to $1.02 per share.

The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.

The largest U.S. drugstore chain posted revenue of $28.8 billion in the period, missing Street forecasts. Nine analysts surveyed by Zacks expected $30.28 billion.

Walgreens expects full-year earnings in the range of $3.70 to $3.80 per share.

Walgreens shares have climbed 13 percent since the beginning of the year. The stock has risen 13 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WBA at http://www.zacks.com/ap/WBA

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Keywords: Walgreens Boots Alliance, Earnings Report