DEERFIELD, Ill. (AP) — Walgreen Co. on Tuesday reported fiscal first-quarter earnings of $809 million.
The Deerfield, Illinois-based company said it had profit of 85 cents per share. Earnings, adjusted for one-time gains and costs, were 81 cents per share.
The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.
The drugstore chain posted revenue of $19.55 billion in the period, also beating Street forecasts. Analysts expected $19.43 billion, according to Zacks.
Walgreen shares have climbed 29 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 12 percent. The stock has increased 26 percent in the last 12 months.
