Cardinal Health Beat Profit And Sales Expectations

Cardinal Health second quarter earnings came in at $326 million, or 98 cents per share, compared to $289 million, or 86 cents per share from the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to $1.30 a share, above the FactSet consensus of $1.26. Revenue rose 23% to $31.4 billion, beating the FactSet consensus of $29.2 billion. For fiscal year 2016, Cardinal Health affirmed its adjusted EPS outlook of $5.15 to $5.35, which compares with the FactSet consensus of $5.29. The stock had lost about 1% in the past three months, while the S&P 500 has dropped about 7%.