McKesson fourth-quarter profit tops forecasts

Mon May 12, 2014 4:39pm EDT

May 12 (Reuters) - U.S. drug wholesaler McKesson Corp on Monday said profit rose in the latest quarter, exceeding analyst expectations, thanks to strength in its distribution and technology solutions units.

For the fiscal fourth quarter ended March 31, the company posted net income of $371 million, up from $259 million in the year-earlier period. On a per share basis, net income from continuing operations rose to $1.56 from $1.11.

Excluding special items, earnings from continuing operations were $2.55 a share.

On that basis, analysts on average expected earnings of $2.40 per share, according to Thomson Reuters I/B/E/S.

Revenue rose 25 percent to $38.14 billion, which was above Wall Street expectations of $35.86 billion. (Reporting by Susan Kelly in Chicago; Editing by David Gregorio)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.