McKesson Corp. Q1 Profit Increases, beats estimates

(RTTNews) - McKesson Corp. (MCK) revealed a profit for its first quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $958 million, or $7.02 per share. This compares with $768 million, or $5.26 per share, in last year's first quarter.

Excluding items, McKesson Corp. reported adjusted earnings of $993 million or $7.27 per share for the period.

Analysts on average had expected the company to earn $5.87 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.9% to $74.48 billion from $67.15 billion last year.

McKesson Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $958 Mln. vs. $768 Mln. last year. -EPS (Q1): $7.02 vs. $5.26 last year. -Analyst Estimate: $5.87 -Revenue (Q1): $74.48 Bln vs. $67.15 Bln last year.

-Guidance: Full year EPS guidance: $26.55 to $27.35