Rite Aid’s Swing to Profit Sends Stock Soaring – Stock Market – Business News, Market Data, Stock Analysis

Shares of pharmacy retailer Rite Aid (RAD) – Get Report were rising more than 45% Thursday after the company reported third-quarter results that topped analysts’ estimates after swinging to a profit in the period from a year-earlier loss.

The Camp Hill, Pennsylvania-based company reported adjusted third-quarter earnings of 54 cents a share, well above forecasts that called for earnings of 7 cents. 

Revenue for the period rose slightly year over year to $5.46 billion from $5.45 billion. Analysts were expecting revenue of $5.42 billion.

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