02:55 PM EDT, 08/08/2024 (MT Newswires) -- (Updates with the stock movement in the headline and first paragraph.)

McKesson (MCK) shares were down nearly 12% in recent Thursday trading, a day after the company's fiscal Q1 revenue missed analysts' estimates.

The company reported fiscal Q1 adjusted earnings late Wednesday of $7.88 per diluted share, up from $7.27 a year earlier.

Analysts polled by Capital IQ expected $7.21.

Revenue in the quarter ended June 30 rose to $79.28 billion from $74.48 billion a year earlier.

Analysts surveyed by Capital IQ expected $82.6 billion.

The company boosted its fiscal 2025 adjusted earnings guidance to $31.75 to $32.55 per diluted share from $31.25 to $32.05. Analysts polled by Capital IQ expect $31.75.

Price: 545.29, Change: -72.22, Percent Change: -11.70