Walgreens Boots Alliance, Inc. (NASDAQ: WBA) reported its financial results for the second quarter of fiscal 2018. With both earnings and revenue beating estimates, shares of the company increased 4.61% during the pre-market trading today.
According to the company, revenue for the second quarter increased 12.1% to $33 billion, which surpassed analysts’ estimates of $31.9 billion. Revenues from the Retail Pharmacy USA division were up 12.2% to $24.5 billion, and revenues from the Pharmaceutical Wholesale division increased 14.4% to $5.8 billion. In addition, revenues from the Retail Pharmacy International division rose 7% to $3.3 billion.
Adjusted earnings per share for the second quarter rose 27.2% to $1.73 per share, also beating analysts’ estimates of $1.55 per share.
“Our growth strategy of increasing and consolidating volume, differentiating ourselves through value and quality of service, and controlling costs is bearing fruit across our businesses. This is reflected in another good set of financial results in which we delivered the highest sales growth in eight quarters, as well as strong cash generation and record U.S. pharmacy market share,” Stefano Pessina, the Executive Vice Chairman and CEO of the company, said in the statement on Wednesday.
“We expect to continue to grow, in part through the recent acquisition of stores from Rite Aid, and today we are raising our fiscal 2018 guidance,” Stefano continued.