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News Summary: Walgreen's 1Q profit jumps 68 pct

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The Associated Press | December 20, 2013 11:17 AM EST | AP


QUARTERLY GROWTH: Drugstore chain Walgreen Co. said Friday its first-quarter earnings soared 68 percent. It earned $695 million, or 72 cents per share, compared to $413 million, or 43 cents per share, last year. Revenue climbed 6 percent to $18.33 billion.

THE EXPECTATIONS: Analysts surveyed by FactSet expected, on average, earnings of 72 cents per share on $18.35 billion in revenue.

KEY FACTOR: The Deerfield Ill., company booked $376 million in income during the quarter from its stakes in European health and beauty retailer Alliance Boots and U.S. pharmaceutical wholesaler AmerisourceBergen Corp.