Walgreens Boots Alliance results beat Street forecasts

DEERFIELD, Ill. (AP) – Walgreens Boots Alliance Inc. (WBA) on Thursday reported fiscal second-quarter net income of $946 million.

On a per-share basis, the Deerfield, Illinois-based company said it had net income of $1.07. Earnings, adjusted for one-time gains and costs, were $1.52 per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.45 per share.

The largest U.S. drug- store chain posted revenue of $35.82 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $35.3 billion.

Walgreens shares have dropped 27% since the beginning of the year. The stock has fallen 32% in the last 12 months.