AmerisourceBergen Corp.'s fiscal third-quarter profit jumped 37% on better-than-expected revenue growth, largely driven by its generic-pharmaceuticals and specialty-distribution and services operations.
As results beat analysts' estimates, the provider of drugs and consulting services to drug makers and health-care practitioners raised its forecast for the year again. It now expects earnings of $2.16 to $2.20 a share, up from $2.01 to $2.10, and increased its revenue-growth target by one percentage point; AmeriSourceBergen also projected fourth-quarter earnings of 44 cents to 48 cents. Analysts' average estimate was 48 cents, according to Thomson Reuters.
For the latest quarter, President and Chief Executive David Yost said the period benefited from increase in distribution and services at its specialty department, which focuses on drug distribution and related services to physicians.
AmeriSource reported a profit of $163.2 million, or 57 cents a share, up from $118.8 million, or 40 cents a share, a year earlier. The most recent period included a five-cent gain. Revenue increased 7% to $19.6 billion.
Analysts most recently estimated earnings of 49 cents and $19.34 billion in revenue.
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Source : http://online.wsj.com/article/SB10001424052748703977004575392833457746378.html?mod=googlenews_wsj
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