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May 11, 2020, 7:15 a.m. EDT

Cardinal Health shares soar premarket after earnings blow past estimates

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By Ciara Linnane

Cardinal Health Inc. shares /zigman2/quotes/206646342/composite CAH +3.54% rose 7.7% in premarket trade Monday, after the drug wholesaler and health services company blew past earnings estimates for its fiscal third quarter. Dublin, Ohio-based Cardinal said it had net income of $350 million, or $1.19 a share, in the quarter ending March 31, up from $296 million, or 99 cents a share, in the year-earlier period. Adjusted per-share earnings came to $1.62, ahead of the $1.43 FactSet consensus. Revenue climbed to $39.2 billion from $35.2 billion, also ahead of the FactSet consensus of $37.0 billion. The company said it still expects fiscal 2020 adjusted EPS of $5.20 to $5.40. Shares have fallen 1.4% in the year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.60% has fallen 9%.

/zigman2/quotes/206646342/composite
US : U.S.: NYSE
$ 47.43
+1.62 +3.54%
Volume: 2.94M
Sept. 25, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
4.10%
Market Cap
$13.92 billion
Rev. per Employee
$2.83M
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/zigman2/quotes/210599714/realtime
US : S&P US
3,298.46
+51.87 +1.60%
Volume: 0.00
Sept. 25, 2020 5:06p
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