Healthcare DIVE January 10, 2025
Despite a $265 million net loss, investors saw reason for optimism, including renegotiated pharmacy contracts and the close of 70 underperforming stores, in the quarter.
Dive Brief:
- Walgreens’ first quarter earnings were notably better than Wall Street feared, though the retail pharmacy operator continues to suffer heavy losses as it works to right the ship.
- On Friday, Walgreens posted financial results that beat analyst expectations with revenue of $39.5 billion, up 7.5% year over year. Still, Walgreens reported a net loss of $265 million, larger than its $67 million loss same time last year, mainly due to costs stemming from ongoing store closures and asset sales.
- Walgreens’ market value has plummeting in recent years, leading the company to explore...
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