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Shares of pharmacy Walgreens Boots Alliance (NASDAQ: WBA) fell as much as 25.4% in trading on Thursday after reporting fiscal third-quarter 2024 results. Shares are still down 24.7% at 3 p.m. ET.
Management said revenue was up 2.6% to $36.4 billion, and net income nearly tripled to $344 million, or $0.40 per share.
The big change was earnings guidance for the full year being cut from a range of $3.20 to $3.35 down to a range of $2.80 to $2.95 per share. This is the second time this year the company has cut guidance.