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McKesson profit beats consensus by 15.6% in fiscal Q3

McKesson Corp. said adjusted net income for the fiscal third quarter ended Dec. 31, 2017, was $3.41 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $2.95 per share.

Adjusted EPS increased 12.2% year over year from $3.04 in the comparable quarter of the last fiscal year.

Adjusted net income totaled $712 million, a gain of 5.5% from $675 million in the same quarter of the last fiscal year.

Revenue rose 7% on an annual basis to $53.6 billion from $50.1 billion.

GAAP net income increased 41.8% on an annual basis to $902 million, or $4.32 per share, from $636 million, or $2.86 per share.

Moving ahead, the company raised its adjusted earnings guidance for the fiscal year to a range of $12.50 to $12.80 from $11.80 to $12.50 previously.