UPDATE: Rite Aid Posts Upbeat Q4 Earnings
Rite Aid (NYSE: RAD) reported better-than-expected fiscal fourth-quarter net income.
Rite Aid's quarterly net profit fell to $55.4 million, or $0.06 per share, versus a year-ago profit of $123.1 million, or $0.13 per share. Its adjusted earnings came in at $0.10 per share, beating analysts' estimates of $0.04 per share.
Its revenue climbed to $6.6 billion from $6.5 billion, versus estimates of $6.57 billion.
Rite Aid projects FY15 net income of $0.31 to $0.42 per share on sales of $26 billion to $26.5 billion.
Rite Aid shares gained 8.13% to $6.92 in pre-market trading.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.