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AP National Business

Walgreens profit slides as COVID-19 vaccinations fade in Q2

KTVZ
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Published 5:43 am

By TOM MURPHY
AP Health Writer

A decline in COVID-19 vaccinations cut into Walgreens second-quarter earnings, but the drugstore chain still delivered better-than-expected results. Walgreens said Tuesday the number of vaccines it administered in the quarter tumbled 80% to 2.4 million compared to last year’s quarter. COVID-19 testing also fell more than 90% and sales of at-home tests dropped as well. Analysts expected those declines compared to last year, when the omicron variant of the coronavirus was surging. Overall, the drugstore chain’s net income tumbled 20% to $703 million. Sales climbed 3% to $34.86 billion.

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