Walgreens beats 4Q profit forecasts

Markets Associated Press

This Tuesday, July 5, 2016, photo shows a Walgreens store in North Andover, Mass. Walgreens Boots is expected to report financial results Thursday, Oct. 20, 2016. (AP Photo/Elise Amendola)

This Tuesday, July 5, 2016, photo shows a Walgreens store in North Andover, Mass. Walgreens Boots is expected to report financial results Thursday, Oct. 20, 2016. (AP Photo/Elise Amendola) (The Associated Press)

Walgreens reported fiscal fourth-quarter net income of $1.03 billion.

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On a per-share basis, the Deerfield, Illinois, company's profit was 95 cents. Earnings, adjusted for one-time gains and costs, came to $1.07 per share.

The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 99 cents per share.

The largest U.S. drugstore chain posted revenue of $28.64 billion in the period, which missed Street forecasts. Eight analysts surveyed by Zacks expected $29.17 billion.

For the year, the company reported profit of $4.17 billion, or $3.82 per share. Revenue was reported as $117.35 billion.

Walgreens Boots Alliance Inc. expects full-year earnings in the range of $4.85 to $5.20 per share.

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Shares have declined slightly more than 9 percent since the beginning of the year. The stock has decreased 13 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 WBA at http://www.zacks.com/ap/WBA

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Keywords: Walgreens Boots Alliance, Earnings Report