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McKesson: Fiscal 3Q Earnings Snapshot

SAN FRANCISCO (AP) _ McKesson Corp. (MCK) on Thursday reported fiscal third-quarter net income of $469 million.

The San Francisco-based company said it had profit of $2.40 per share. Earnings, adjusted for one-time gains and costs, came to $3.40 per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $3.18 per share.

The prescription drug distributor posted revenue of $56.21 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $55.27 billion.

McKesson expects full-year earnings in the range of $13.45 to $13.65 per share.

McKesson shares have increased 16 percent since the beginning of the year, while the Standard & Poor's 500 index has increased roughly 8 percent. In the final minutes of trading on Thursday, shares hit $128, a fall of 24 percent 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 MCK at https://www.zacks.com/ap/MCK