Walgreens Swings To Profit As COVID-19 Testing, Vaccinations Lift Pharmacy Sales

Walgreens Swings To Profit As COVID-19 Testing, Vaccinations Lift Pharmacy Sales

(Reuters) – Walgreens Boots Alliance Inc on Thursday posted a profit for the first quarter versus a year-ago loss, as strong demand for COVID-19 vaccinations and testing buoyed sales at its pharmacy stores.

Net income attributable to Walgreens was $3.58 billion, or $4.13 per share, in the quarter ended Nov. 30, compared to a loss of $308 million, or 36 cents per share, a year earlier, largely due to a one-time charge of $1.5 billion.

(Reporting by Manojna Maddipatla and Oishee Majumdar in Bengaluru; Editing by Sriraj Kalluvila)