McKesson Corp. Announces 9% Decline In Q3 Earnings

(RTTNews) - McKesson Corp. (MCK) reported a profit for third quarter that decreased from last year.

The company said its earnings dropped to $674 million, or $3.03 per share. This was lower than $739 million, or $3.18 per share, in last year's third quarter.

Analysts had expected the company to earn $2.92 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 4.7% to $50.13 billion. This was up from $47.90 billion last year.

McKesson Corp. earnings at a glance:

-Earnings (Q3): $674 Mln. vs. $739 Mln. last year. -Earnings Decline (Y-o-Y): -8.8% -EPS (Q3): $3.03 vs. $3.18 last year. -EPS Decline (Y-o-Y): -4.7% -Analysts Estimate: $2.92 -Revenue (Q3): $50.13 Bln vs. $47.90 Bln last year. -Revenue Change (Y-o-Y): 4.7%

-Guidance: Full year EPS guidance: $12.60 - $12.90