RTTNews | Nov 2, 2021 10:33AM EDT

10:32 Tuesday, November 2, 2021 (RTTNews.com) - Texas-based healthcare company, McKesson Corporation (MCK) is trading 5% higher in the market after the company reported a better-than-expected net earnings on Monday. The company also raised its guidance for the full year.

The company's net income was $267 million, or $1.71 per share compared to $577 million, or $3.54 per share, in last year's second quarter. On an adjusted basis, McKesson Corp. reported adjusted earnings of $958 million or $6.15 per share for the period. On average, 12 analysts polled by Thomson Reuters expected the company to earn $4.66 per share for the quarter.

The company's revenue for the quarter rose 9.5% to $66.58 billion from $60.81 billion last year. Analysts' forecast for the revenue was $64.80 billion.

The company forecasts adjusted earrings of $21.95 to $22.55 per share for the full year. The figure also includes probable impairments in the range of $2.30 to $3.05 per share, attributed to vaccination drives, PPE and other protective gears, and other general costs. The prior guidance for the full year was in the range of $19.80 and $20.40 per share. Analysts expect the earnings to come at $20.32 for the full year.

The stock is currently trading at $218.52, up $10.44 or 5.02%) since the previous close at $208.08. The shares opened at $216.20 in the morning. In the 52-week period, the shares have ranged between $155.30 and $219.45 per share.

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