UPDATE: McKesson Posts Downbeat FQ3 Profit

McKesson

reported a 1% drop in its net income in the fiscal third quarter. McKesson's quarterly net income fell to $298 million, from $300 million, in the year-ago period. Its per-share income climbed to $1.27 versus $1.22. Excluding one-time items, McKesson earned $1.41 per share, missing analysts' estimates of $1.63 per share. Its revenue rose 1% to $31.19 billion from $30.84 billion, versus analysts' estimates of $30.79 billion. McKesson now projects fiscal-year profit of $7.10 to $7.30 per share. The company had earlier expected net income of $7.05 to $7.35 per share. McKesson shares fell 1.64% to $103.50 in after-hours trading.