Why Walgreens Boots Alliance Shares Are Sinking Today
Shares of Walgreens Boots Alliance (NASDAQ: WBA) were sinking 6% lower as of 11:27 a.m. EST on Wednesday. The decline came after the pharmacy retailer and wholesaler announced disappointing fiscal year 2020 first-quarter results before the market opened.
Walgreens reported Q1 revenue of $34.3 billion, up 1.6% year over year. The consensus analysts' estimate projected that the company would generate revenue of $34.6 billion. Adjusted earnings per share were $1.37, down 6% year over year and below the average analysts' estimate of $1.41.
Image source: Getty Images.
Source Fool.com
