Walgreens revenue rises despite sharp decline in demand for Covid tests, vaccines
Publishing timestamp: 2023-03-28 07:02:50
Summary
Walgreens' quarterly profit declined over 20% due to lower Covid vaccine volumes and test sales compared to last winter, but revenue came in higher than expected. The company's growing health care unit posted a jump in revenue, with primary care services growing 30% at VillageMD, including Summit Health, while home care at CareCentrix was up 25%. Walgreens reaffirmed its full year earnings guidance and projected adjusted earnings growth of mid-20% over the next two quarters.
Sentiment: NEUTRAL
Tickers: WBA,
Keywords: business, business news, earnings, breaking news: earnings, walgreens boots alliance inc, retail industry, health care industry,
Source: https://www.cnbc.com/2023/03/28/walgreens-wba-q2-earnings.html