Walgreens takes $5.8 billion hit on VillageMD bet amid CEO focus on profit

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Go back to Walgreens takes $5.8 billion hit on VillageMD bet amid CEO focus on profit

Walgreens Boots Alliance (WBA) tops Q2 expectations, narrows full-year profit forecast

March 28, 2024 8:24 AM EDT

Walgreens Boots Alliance (NASDAQ: WBA) reported a significant beat on adjusted earnings per share (EPS) for the second quarter, coming in at $1.20, which was $0.38 higher than the analyst estimate of $0.82. Revenue also surpassed expectations at $37.1 billion, against the consensus estimate of $35.9 billion, marking a 6.3% increase from the same quarter last year.

Despite the earnings beat, shares of WBA fell slightly by 1.05%, likely influenced by a substantial impairment charge related to VillageMD goodwill. This non-cash charge... More