WBA stock ( NASDAQ:WBA ) is up more than 6% after the firm reported a double-digit increase in fourth-quarter profits. The corporation ended its fiscal year with earnings per share (EPS) of 80 cents on $32.45 billion in sales. Analysts had predicted 71 cents per share and $32.15 billion in sales.
Walgreens Boots Alliance stock ( NASDAQ:WBA ) has now outperformed analysts’ expectations for eight consecutive quarters. Nonetheless, WBA stock ( NASDAQ:WBA ) seems to be flashing a warning flag. As a result, the recent increase in the stock price may be fleeting.
WBA Stock: This Time, the Good News Was Indeed Good News.
Markets have been selling on positive news and rising on negative news for weeks. However, Walgreens’ report gives investors reason to be optimistic. In particular, the business set full-year profit expectations of $4.45 to $4.65 per share. Analysts predict $4.53 per share for the whole year.
As a result, Walgreens’ earnings report may be the first indication that the widely anticipated earnings recession will not be as severe as expected. Or, at the absolute least, they may wait until after the holidays. Indeed, this might be one of the reasons why the whole market seemed to gain ground for the day.
Nonetheless, WBA stock ( NASDAQ:WBA ) is down 6% for the month and 28% for the year. This indicates it has suffered a greater loss than the S&P 500 and the Dow Jones Industrial Average (DJIA). And here is where investors are concerned.
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