Cardinal Health Beat Estimates but Sees Big Drop in Revenue

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Cardinal Health Beat Estimates but Sees Big Drop in Revenue

by TheStreet 0:58 mins

Cardinal Health Beat Estimates but Sees Big Drop in Revenue

by TheStreet 0:58 mins

Cardinal Health beat estimates on both the top and bottom line but the 10% decline in revenues, from the same quarter a year ago, drove the stock down nearly 3% in Monday's trading. Cardinal Health reported earnings of 83 cents a share which beat estimates and last year’s earnings and sales of $22.9 billion also beat earnings but were well below the $25.4 billion in earnings in the fourth quarter of 2013. Revenues for the pharmaceutical segment were down 12% from last year's fourth quarter after the expiration of a contract with Walgreen's. Cardinal set their fiscal 2015 earnings projections between $4.10 and $4.30 a share, on the high end of guidance, a 12% increase from this year's earnings. TheStreet's Whalen MacHale reports from New York.

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