Walgreens Boots Alliance (WBA) launched its second quarter earnings, revealing $37.05 billion in income for the quarter, beating expectations of $35.86 billion. The corporate additionally reported a internet lack of $6 billion because of the decline within the worth of its funding in VillageMD. Citing a difficult retail atmosphere, Walgreens narrowed its 2024 earnings outlook.Yahoo Finance Reporter Anjalee Khemlani joins The Morning Temporary to contextualize the earnings beat and the brand new management’s priorities.For extra knowledgeable perception and the newest market motion, click on right here to look at this full episode of Morning Temporary.Editor’s word: This text was written by Nicholas JacobinoVideo Transcript- Properly, time for at present’s inventory to look at. Walgreens second quarter income beating expectations however narrowing its adjusted EPS steering for 2024 amid what they’re calling a difficult retail atmosphere. Yahoo Finance’s Anjalee Khemlani has the main points right here. Hey, Anj.ANJALEE KHEMLANI: That is proper. In fact, their retail atmosphere, not a shock for many who have been following the story. They have been challenged on the entrance finish for fairly a while. And that story continues to place stress on the corporate, as we see on this earnings.They did beat estimates with a billion extra {dollars} than estimated, with $37 billion coming in. However we additionally know that a few of that got here from nearly all of that beat analysts’ have mentioned have come from the favorable tax charge that they bought.They’ve additionally been doing lots of scaling again. We all know that the brand new management has actually been targeted on rightsizing what the corporate is concentrated on pulling again on scientific providers with shutting down 160 VillageMD clinics. So there’s so much happening behind the scenes for the corporate.In the meantime, they’ve seen prescription volumes enhance, which is giving buyers some hope that the balancing act that they are attempting to do with this back-to-basics deal with pharmacy will proceed.