Why Walgreens Stock Is Jumping Higher Today
Shares of the pharmacy chain Walgreens Boots Alliance (NASDAQ: WBA) were rising today after the company reported better-than-expected results for its second quarter. Walgreens beat analysts' average estimates for both its top and bottom lines, boosting investor sentiment in the stock today.
The healthcare stock was up by 3.5% as of 11:08 a.m. ET.
Walgreens reported non-GAAP (generally accepted accounting principles) adjusted earnings per share of $1.16 in the second quarter, which was down 27% but still better than the $1.10 per share that Wall Street was expecting. The company's sales of $34.9 billion in the quarter were up 3% year over year and outpaced analysts' average estimate of $33.5 billion.
Source Fool.com
