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Cardinal Health (CAH) Beats Q3 Earnings & Sales

Cardinal Health Inc. CAH is a healthcare services company engaged in providing pharmaceutical and medical products and services in the United States and internationally. The company mainly operates in two segments, Pharmaceutical and Medical.

Currently, Cardinal Health has a Zacks Rank #4 (Sell) but that could change following its third-quarter fiscal 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:

Earnings: Cardinal Health’s adjusted earnings surged 20.2% on a year-over-year basis to $1.43. It also managed to outpace the Zacks Consensus Estimate of $1.33.

Revenues: Revenues increased 21% on a year-over-year basis to $30.66 billion. It also managed to beat the Zacks Consensus Estimate of $30.50 billion.

Key Stats: Pharmaceutical revenues surged 21.8% to $27.53 billion while revenues from Medical segment increased 13.1% to $3.14 billion in the quarter.

Major Factors: Cardinal Health revised its fiscal 2016 adjusted earnings guidance range to $5.17-$5.35 per share, up from $5.15–$5.35.

Stock Price: Following the earnings release, share prices did not show any movement in the pre-market trading session.

Check back later for our full write up on this Cardinal Health earnings report later!    

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