AmerisourceBergen Earnings: Here’s Why the Stock is Struggling for Momentum
AmerisourceBergen Corporation (NYSE:ABC) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 1.06%.
AmerisourceBergen Corporation Earnings Cheat Sheet
Results: Net income increased 4% to $168.6 million (71 cents per diluted share) in the quarter versus a net gain of $162.12 million in the year-earlier quarter.
Revenue: Rose 5.45% to $21.47 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: AmerisourceBergen Corporation reported adjusted net income of 71 cents per share. By that measure, the company beat the mean analyst estimate of $0.67. It missed the average revenue estimate of $21.69 billion.
Quoting Management: “We are off to a solid start in our fiscal year 2013, with December quarter results in line with our expectations,” said Steven H. Collis, AmerisourceBergen President and CEO…