Walgreens Q1 earnings exceed expectations, fueled by more pharmacy sales

Walgreens reported better-than-expected first-quarter earnings Jan. 7, driven primarily by  strong pharmacy sales, CNBC reported. 

The retail pharmacy giant reported $1.22 earnings per share versus an expected $1.03 and revenue of $36.31 billion versus an expected $34.95. 

Walgreens said its pharmacy sales grew as it filled more prescriptions and gave more flu shots, CNBC reported. Pharmacy sales rose 5 percent over last year, but the company also saw less foot traffic, lower sales of cough, cold and flu medications and fewer new prescriptions. 

Walgreens shares have fallen about 28 percent in the last year, bringing its market value to $37.2 billion, according to CNBC

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