AP NEWS

McKesson: Fiscal 2Q Earnings Snapshot

October 30, 2019 GMT

IRVING, Texas (AP) _ McKesson Corp. (MCK) on Wednesday reported a fiscal second-quarter loss of $730 million, after reporting a profit in the same period a year earlier.

The Irving, Texas-based company said it had a loss of $3.99 per share. Earnings, adjusted for non-recurring costs and amortization costs, came to $3.60 per share.

The results met Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was also for earnings of $3.60 per share.

The prescription drug distributor posted revenue of $57.62 billion in the period, exceeding Street forecasts. Five analysts surveyed by Zacks expected $54.94 billion.

McKesson expects full-year earnings in the range of $14 to $14.60 per share.

McKesson shares have risen 35% since the beginning of the year, while the Standard & Poor’s 500 index has risen 21%. The stock has increased 24% 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 MCK at https://www.zacks.com/ap/MCK