McKesson Corp. Q4 Profit Decreases, misses estimates

(RTTNews) - McKesson Corp. (MCK) reported earnings for fourth quarter that decreased from last year and missed the Street estimates.

The company's earnings totaled $368 million, or $2.47 per share. This compares with $666 million, or $4.15 per share, in last year's fourth quarter.

Excluding items, McKesson Corp. reported adjusted earnings of $870 million or $5.83 per share for the period.

Analysts on average had expected the company to earn $6.04 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.8% to $66.10 billion from $59.14 billion last year.

McKesson Corp. earnings at a glance (GAAP) :

-Earnings (Q4): $368 Mln. vs. $666 Mln. last year. -EPS (Q4): $2.47 vs. $4.15 last year. -Analyst Estimates: $6.04 -Revenue (Q4): $66.10 Bln vs. $59.14 Bln last year.