McKesson Corp. Earnings Drop 49% In Q2

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

The company said its profit dropped to $393 million, or $1.72 per share. This was down from $776 million, or $3.31 per share, in last year's second quarter.

Analysts had expected the company to earn $3.05 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 2.5% to $49.96 billion. This was up from $48.76 billion last year.

McKesson Corp. earnings at a glance:

-Earnings (Q2): $393 Mln. vs. $776 Mln. last year. -Earnings Decline (Y-o-Y): -49.4% -EPS (Q2): $1.72 vs. $3.31 last year. -EPS Decline (Y-o-Y): -48.0% -Analysts Estimate: $3.05 -Revenue (Q2): $49.96 Bln vs. $48.76 Bln last year. -Revenue Change (Y-o-Y): 2.5%

-Guidance: Full year EPS guidance: $12.35 - $12.85