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Walgreens Boots Alliance Misses Revenue Mark, But Profit Is Healthy

April 5, 2017: 12:00 AM EST
Walgreens Boots Alliance posted second quarter profit of $1.1 billion, an increase of 14 percent over the same period a year ago, on sales of $29.4 billion (a drop of 24 percent and short of expectations by $790 million.). Earnings per share were $0.98, an increase of 15.3 percent. The company said the earnings increases reflect the reduction in the fair value of the company's AmerisourceBergen Corporation warrants a year ago. The drugstore chain saved $1.5 billion, ahead of schedule from its cost transformation program. CEO Stefano Pessina said the results were pretty much what the company expected, “despite some challenging conditions,” and he was pleased with “the growth in pharmacy volume and market share.” The company is optimistic that regulatory agencies will green light its acquisition of Rite Aid by the end of July. [ Image credit: © Walgreens Boots Alliance  ]
"Walgreens Boots Alliance Reports Fiscal 2017 Second Quarter Results", Earnings release, Walgreens Boots Alliance, April 05, 2017, © Walgreens Boots Alliance
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