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VOL. 37 | NO. 25 | Friday, June 21, 2013

Walgreen fiscal 3Q profit jumps 16 percent

The Associated Press

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Walgreen says its fiscal third quarter earnings jumped 16 percent compared to last year, when a business split hurt results for the nation's largest drugstore chain.

The Deerfield, Ill., company reported net income of $624 million, or 65 cents per share, in the quarter that ended in May. That's up from $537 million, or 62 cents per share, a year ago. Revenue rose about 3 percent to $18.31 billion.

Adjusted earnings were 85 cents per share, excluding acquisition and legal costs.

Analysts forecast earnings of 91 cents per share on $18.4 billion in revenue.

Walgreen resumed filling prescriptions for pharmacy benefits manager Express Scripts last September after a break of about nine months. Its acquisition of a stake in European health and beauty retailer Alliance Boots also helped results this year.