McKesson Corp. Q1 Income Drops 27%

(RTTNews) - McKesson Corp. (MCK) announced a profit for first quarter that retreated compared to the same period last year.

The company said its bottom line fell to $523 million, or $2.46 per share. This was lower than $716 million, or $3.15 per share, in last year's first quarter.

Analysts had expected the company to earn $2.83 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 2.7% to $51.05 billion. This was up from $49.73 billion last year.

McKesson Corp. earnings at a glance:

-Earnings (Q1): $523 Mln. vs. $716 Mln. last year. -Earnings Decline (Y-o-Y): -27.0% -EPS (Q1): $2.46 vs. $3.15 last year. -EPS Decline (Y-o-Y): -21.9% -Analysts Estimate: $2.83 -Revenue (Q1): $51.05 Bln vs. $49.73 Bln last year. -Revenue Change (Y-o-Y): 2.7%

-Guidance: Full year EPS guidance: $11.80 to $12.50