McKesson Corp. Q1 Profit Decreases, But Beats Estimates

(RTTNews) - McKesson Corp. (MCK) announced a profit for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $915 million, or $7.00 per share. This compares with $958 million, or $7.02 per share, in last year's first quarter.

Excluding items, McKesson Corp. reported adjusted earnings of $1.029 billion or $7.88 per share for the period.

Analysts on average had expected the company to earn $7.21 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.4% to $79.283 billion from $74.483 billion last year.

McKesson Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $915 Mln. vs. $958 Mln. last year. -EPS (Q1): $7.00 vs. $7.02 last year. -Revenue (Q1): $79.283 Bln vs. $74.483 Bln last year.

-Guidance: Full year EPS guidance: $31.75 to $32.55