Analysts expected, on average, earnings of $1.41
per share on $33.86 billion in revenue, according
to Zacks Investment Research.
Boylan termed the quarter good but not great.
He said in a research note that Walgreens sales
turned out better than expected, and that
should continue.
The analyst said he expects Walgreens to grow
its business as health plans narrow the network
of pharmacies they cover in exchange for a
break on pharmacy costs.
The stock had dropped 19% since the beginning
of the year. Meanwhile, the Dow Jones industrial
average, of which Walgreens is a component,
has climbed nearly 16%.