Express Scripts Holding Co. (ESRX) on Tuesday reported net income that decreased by 5.1 percent in its second quarter, and beat analysts' expectations.
The St. Louis-based company said earnings dropped to $515.2 million from $543 million. On a per-share basis its income rose to 67 cents from 66 cents because of a stock repurchase that decreased its share count.
Earnings, adjusted for amortization costs and non-recurring items, came to $1.23 per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.22 per share.
The company said revenue declined 4.8 percent to $25.11 billion from $26.38 billion in the same quarter a year ago, and topped Wall Street forecasts. Analysts expected $24.38 billion, according to Zacks.
Express Scripts shares have fallen $2.96, or 4.2 percent, to $67.28 since the beginning of the year, while the Standard & Poor's 500 index has climbed 6.6 percent. However, the stock has risen $2.34, or 3.6 percent, in the last 12 months.