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Walgreens profits, sales surpass estimates and increase its forecast for 2018



Walgreens Boots Alliance's quarterly profits and sales exceeded analysts' estimates on Wednesday, as the drugstore chain filled more prescriptions and kept costs down.

The company's Deerfield, Illinois, stock of shares rose 4.8 percent to $ 69.11 in pre-market trading.

The drug retailer increased its adjusted full-year earnings guidance from $ 5.45 to $ 6.05 per share from $ 5.45 to $ 5.70 per share, reflecting the benefits of changes US Tax Law Reflected

Walgreens Expects More Than 350 Million US Dollars Tax revenue for the 2018 fiscal year increased by approximately $ 150 million from the previous estimate.

Walgreens' US pharmacy sales increased 5.1

percent in the quarter. The company filled 269.2 million prescriptions, 9.1 percent more than a year ago.

Walgreens posted $ 1.73 per share excluding items. Sales increased 12 percent to $ 33.02 billion.

On average, analysts forecast $ 1.55 per share in revenue of $ 32.19 billion, according to Thomson Reuters I / B / E / S.

Net income of the company increased to 1.35 Billion dollars or $ 1.36 per share in the second quarter ended February 28, from $ 1.06 billion, or 98 cents a share, a year earlier.


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