AmerisourceBergen: Fiscal Q1 Earnings Snapshot

CONSHOHOCKEN, Pa. (AP) _ AmerisourceBergen Corp. (ABC) on Wednesday reported fiscal first-quarter earnings of $479.7 million.

The Conshohocken, Pennsylvania-based company said it had net income of $2.33 per share. Earnings, adjusted for one-time gains and costs, were $2.71 per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.62 per share.

The prescription drug distributor posted revenue of $62.85 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $62.27 billion.

AmerisourceBergen expects full-year earnings in the range of $11.50 to $11.75 per share.

AmerisourceBergen shares have increased 2% since the beginning of the year, while the S&P's 500 index has increased 6%. The stock has risen 24% 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 ABC">Zacks stock report on ABC at https://www.zacks.com/ap/ABC