Rite Aid (RAD) shares jumped almost 20% on June 23 after the American drugstore chain delivered better-than-expected first-quarter results and also raised its FY2023 revenue guidance well above analysts' expectations. Q1 Beat The company reported an adjusted loss of $0.60 per share, which was much better than the street’s estimated loss of $0.70. Though the loss narrowed compared to the estimates, it was much worse than the earnings per share of $0.38 in the same quarter last year. Revenues declined 2.4% year-over-year to $6.01 billion but still exceeded consensus estimates of $5.75 billion.
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Rite Aid (NYSE:RAD)
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