Shares of drugstores chain Rite Aid Corporation (RAD) are falling more than 15% Wednesday morning after reporting wider loss in the third quarter, due to lower revenue from Covid vaccines and testing.
For the third quarter, the company reported net loss of $67.1 million, or $1.23 loss per share, wider than $36.1 million, or $0.67 per share loss in the same quarter a year ago.
Excluding one-time items, loss was $7.9 million, or $0.14 per share
Revenues for the quarter declined to $6.08 billion from $6.23 billion in the prior year’s quarter.
RAD, currently at $3.72, has traded in the range of $3.68-$15.62 in the last 1 year.
Source: Read Full Article
Lates News:
-
Bitcoin Shrimps and Crabs Accumulate BTC Aggressively Amid Heightened Institutional Interest
-
"Market Manipulation?" — Former SEC Official Reveals Factors Propelling Bitcoin’s Latest Price Ascent
-
Bitcoin Supply on Exchanges Hits Lowest Level in Over Five Years
-
Glassnode Analyst Sees Bitcoin's Resilience Amid Global Economic Volatility
-
Bitcoin Behemoth: Whale Gathers Accumulated $500 Million in BTC Year-to-Date to Sit on Massive Unrealized Gains