SAN FRANCISCO (AP) _ McKesson Corp. (MCK) on Thursday reported fiscal fourth-quarter net income of $3.59 billion.
On a per-share basis, the San Francisco-based company said it had profit of $16.77. Earnings, adjusted for one-time gains and costs, were $3.39 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $3.04 per share.
The prescription drug distributor posted revenue of $48.71 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $49.78 billion.
For the year, the company reported profit of $5.07 billion, or $22.73 per share. Revenue was reported as $198.53 billion.
McKesson expects full-year earnings in the range of $11.75 to $12.45 per share.
McKesson shares have climbed almost 1 percent since the beginning of the year, while the Standard & Poor's 500 index has risen roughly 6 percent. In the final minutes of trading on Thursday, shares hit $141.44, a fall of 21 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MCK at https://www.zacks.com/ap/MCK
Keywords: McKesson, Earnings Report
Automated Insights, source Associated Press News