San Francisco-based McKesson released its financial results for the first quarter of fiscal year 2018, which ended June 30.
Here are five things to know.
1. The company posted $51.1 billion in revenue, up 3 percent year-over-year from one year prior.
2. McKesson Distribution Solutions, one of the company's primary businesses, reported $43 billion in North American pharmaceutical distribution and services revenues for the first quarter, up 4 percent.
3. McKesson Technology Solutions revenues plummeted 83 percent, posting $120 million in revenue from products and services, compared to $724 million in the same period last year.
The company attributed the profit drop to the Change Healthcare joint venture, which combined the majority of McKesson Technology Solutions and substantially all of Change Healthcare's business in March.
4. McKesson posted $309 million in net income, down 43 percent from $542 million one year prior.
5. The company's adjusted earnings per diluted share was $2.46 in the first quarter, down 22 percent year-over-year.
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