DUBLIN, Ohio (AP) — DUBLIN, Ohio (AP) — Cardinal Health Inc. (CAH) on Thursday reported fiscal first-quarter profit of $450 million.
The Dublin, Ohio-based company said it had net income of $1.88 per share. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, came to $2.55 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.21 per share.
The prescription drug distributor posted revenue of $64.01 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $59.05 billion.
Cardinal expects full-year earnings in the range of $9.65 to $9.85 per share.
Cardinal shares have increased 39% since the beginning of the year, while the S&P’s 500 index has risen 17%. The stock has climbed 49% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAH at https://www.zacks.com/ap/CAH
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