McKesson quarterly revenue climbs 4%, profit falls 2% in Q4 2016

For McKesson's fourth quarter of 2016, ended March 31, the health IT company reported a slight increase in revenue from the same quarter the previous year, but gross profit minimally decreased.

The company's quarterly revenue totaled $46.68 billion, up 4 percent from the previous year's quarterly revenue of $44.93 billion. For the company's fiscal year 2016, which ended March 31, it reported $190.88 billion, up 7 percent from the previous fiscal year's total revenue of $179.04 billion.

McKesson's quarterly profit, though, fell a slight 2 percent, from $2.92 billion last year to $2.85 billion this year. Profit for the year remained stagnant at $11.41 billion.

"I am pleased with our fourth-quarter results, driven by solid execution across both our Distribution Solutions and Technology Solutions segments," John Hammergren, chairman and CEO of McKesson, said in an earnings statement. "Fiscal 2016 was a year of growth at McKesson, and I am encouraged by the many new and expanded customer relationships throughout our businesses."

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