UPDATE: Rite Aid Posts 16% Rise In Q3 Earnings. Lowers Outlook
Rite Aid (NYSE: RAD) reported a 16% rise in its fiscal third-quarter earnings.
For the fiscal year, Rite Aid lowered its earnings forecast to $0.17 to $0.23 per share, on revenue of $25.3 billion to $25.425 billion. The company had earlier expected earnings of $0.18 to $0.27 per share, on revenue of $25.1 billion to $25.3 billion.
Rite Aid's quarterly profit surged to $71.5 million, from $61.9 million, in the year-ago period. On a per-share basis, its earnings fell to $0.04 per share from $0.07.
Its revenue rose 1.9% to $6.36 billion. However, analysts were estimating earnings of $0.04 per share on revenue of $6.32 billion.
Rite Aid's same-store sales climbed 2.3%.
Rite Aid shares fell 4.51% to $5.50 in pre-market trading.
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