Walgreens Boots Alliance beat revenue expectations in its quarter ending February 28th. Revenue came in higher than Wall Street’s expectations despite a decline COVID vaccine volumes and test sales. Revenue came in at $34.86 billion versus the $33.53 billion expected, and earnings per share came in at $1.16 adjusted versus the $1.10 expected. Operating income declined to nearly $200 million from more than $1.2 billion a year earlier as a result of a $306 million pre-tax charge for opioid litigation claims, higher investments in pharmacy wages, and costs associated with its $3.5 billion investment in the acquisition of Summit Health. The pharmacy chain confirmed its full-year earnings guidance of $4.45 to $4.65 per share, projecting adjusted earnings growth of mid-20 percent over the next two quarters. Shares rose 1.7 percent in premarket trading.
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