Walgreens Beats in One of Last Quarters as Public Company

Walgreens Boots Alliance Inc. reported quarterly profit that beat Wall Street’s expectations, a hopeful sign as the pharmacy giant prepares to transform into a private company after its market value plummeted due to retail competition and lower prescription drug payments from insurance companies.

Adjusted earnings per share for the fiscal quarter, which ended May 31, were 38 cents, it said in a statement, above the average analyst estimate of 31 cents. Revenue was $39 billion, above the average estimate of $36.8 billion.