McKesson Corp. reported an increase in profits for its fourth quarter compared to the same period last year. However, its earnings did not meet analysts' predictions.
The corporation reported a net profit of $791 million, or $6.02 per share, an increase compared to the fourth quarter of the previous year which saw $787 million, or $5.71 per share.
When excluding particular items, the adjusted earnings of McKesson Corp., for this period were recorded at $813 million or $6.18 per share.
On average, analysts had anticipated the company's earnings to reach $6.34 per share, according to data compiled by Thomson Reuters. The analysts' predictions typically exclude any special items.
The quarterly revenue of McKesson Corp. saw an increase of 10.8%, rising to $76.36 billion from $68.91 billion the previous year.
Here is a brief look at McKesson Corp.'s earnings for this period, according to General Accepted Accounting Principles (GAAP):
- For the fourth quarter, earnings were $791 million, compared to $787 million the previous year.
- Earnings per Share (EPS) for the fourth quarter were $6.02, compared to $5.71 the previous year.
- Revenue for the fourth quarter was $76.36 billion, compared to $68.91 billion the previous year.
