McKesson Corp. Q3 Profit Decreases, but beats estimates

(RTTNews) - McKesson Corp. (MCK) revealed earnings for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $589 million, or $4.42 per share. This compares with $1.08 billion, or $7.66 per share, in last year's third quarter.

Excluding items, McKesson Corp. reported adjusted earnings of $1.03 billion or $7.74 per share for the period.

Analysts on average had expected the company to earn $7.05 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.8% to $80.90 billion from $70.49 billion last year.

McKesson Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $589 Mln. vs. $1.08 Bln. last year. -EPS (Q3): $4.42 vs. $7.66 last year. -Analyst Estimates: $7.05 -Revenue (Q3): $80.90 Bln vs. $70.49 Bln last year.

-Guidance: Full year EPS guidance: $27.25 to $27.65