<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/562fb6b7bd86ef135c8ba083-4476-3357/walgreens_on_canal_street_in_new_orleans_at_night.jpg" alt="Walgreens" data-mce-source="Wikimedia" data-link="https://upload.wikimedia.org/wikipedia/commons/e/e5/Walgreens_on_Canal_Street_in_New_Orleans_at_night.JPG" /><p class="source"><span><a href="https://upload.wikimedia.org/wikipedia/commons/e/e5/Walgreens_on_Canal_Street_in_New_Orleans_at_night.JPG">Wikimedia</a></span></p></div><p></p></div></div>Walgreens reported second-quarter earnings that were better than expected on Tuesday, helped by cost reductions. </p><p>The retailer said it earned $1.31 in adjusted earnings per share, topping the forecast for $1.28 according to Bloomberg. </p><p>Its revenues for the period totaled $30.2 billion, below the estimate for $30.7 billion. </p><p>Its shares were little changed in premarket trading. They're also flat for the last 12 months. </p><p>"W<span>e continued to make good progress in the quarter in reducing costs and establishing more efficient working practices, which contributed to overall adjusted earnings growth," CEO <span>Stefano Pessina said in the release. </span></span></p><p><span><span>The company said its acquisition of Rite Aid announced last October is expected to close in the second half of this year. </span></span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/dea-agent-when-asked-to-try-drugs-mike-vigil-deal-2016-3">EX-UNDERCOVER DEA AGENT: What I did when drug dealers asked me to try the product</a></h3>        <div>            <div>    <script src="http://player.ooyala.com/v3/6e12e8b3387a44daacfb73afba25a76e"></script>    <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="w1MGxlMjE6hH45aq4Ag4Q590qZgMWztE" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>    <script>    if (typeof RunFunctions === 'undefined') { var RunFunctions = []; }     RunFunctions.push(function()    {         var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', 'w1MGxlMjE6hH45aq4Ag4Q590qZgMWztE',{ autoplay: 'false' });     });    </script>    <noscript><div>Please enable Javascript to watch this video</div></noscript></div>        </div>        <script>(function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }()); </script>    </div>

Retail

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Walgreens beats earnings expectations, revenues whiff

WikimediaWalgreens reported second-quarter earnings that were better than expected on Tuesday, helped by cost reductions. The retailer said it earned $1.31 in adjusted earnings per share, topping the forecast for $1.28 according to Bloomberg. Its revenues for the period totaled $30.2 billion, below the estimate for $30.7 billion. Its shares were little changed in premarket trading. They're also flat for the last 12 months. "We continued to make good progress in the quarter in reducing costs and establishing more efficient working practices, which contributed to overall adjusted earnings growth," CEO Stefano Pessina said in the release. The company said its acquisition of Rite Aid announced last October is expected to close in the second half of this year. NOW WATCH: EX-UNDERCOVER DEA AGENT: What I did when drug dealers asked me to try the product if (typeof RunFunctions === 'undefined') { var RunFunctions = []; } RunFunctions.push(function() { var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', 'w1MGxlMjE6hH45aq4Ag4Q590qZgMWztE',{ autoplay: 'false' }); }); Please enable Javascript to watch this video (function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }());

WikimediaWalgreens reported second-quarter earnings that were better than expected on Tuesday, helped by cost reductions. The retailer said it earned $1.

Walgreens beats earnings expectations, revenues whiff

Akin Oyedele

NOW WATCH: EX-UNDERCOVER DEA AGENT: What I did when drug dealers asked me to try the product

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