Walgreens tops 2Q profit forecasts

Staff Writer
Columbus CEO

DEERFIELD, Ill. (AP) — Walgreens Boots Alliance Inc. (WBA) on Tuesday reported fiscal second-quarter profit of $930 million.

The Deerfield, Illinois-based company said it had net income of 85 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.31 per share.

The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.27 per share.

The largest U.S. drugstore chain posted revenue of $30.18 billion in the period, which did not meet Street forecasts. Seven analysts surveyed by Zacks expected $30.72 billion.

Walgreens expects full-year earnings in the range of $4.35 to $4.55 per share.

Walgreens shares have increased slightly more than 1 percent since the beginning of the year. The stock has risen slightly 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