Walgreens misses on earnings and revenue
Morning Business Outlook: Drugstore chain Walgreens is reportedly exploring whether to go private and as held preliminary talks with major private equity firms; coffee giant Starbucks has unveiled its latest holiday cup.
DEERFIELD, Ill. -- Walgreens Boots Alliance Inc. (WBA) on Wednesday reported fiscal first-quarter profit of $845 million.
WALGREENS BOOTS ALLIANCE BUYOUT WOULD BE A MONSTER
The Deerfield, Illinois-based company said it had profit of 95 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.37 per share.
The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.40 per share.
The largest U.S. drugstore chain posted revenue of $34.34 billion in the period, also missing Street forecasts. Six analysts surveyed by Zacks expected $34.63 billion.
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Walgreens shares have risen almost 1 percent since the beginning of the year. The stock has decreased 15 percent in the last 12 months.