McKesson HBOC Misses Second-Quarter Estimates - TheStreet

McKesson HBOC

(MCK) - Get Report

reported a 4% decline in second-quarter earnings, missing analysts' expectations by a penny, amid losses at its online health care unit.

The health care services provider, which is based in San Francisco, earned $61.4 million, or 22 cents a share, excluding special items, down from $63.9 million, or 23 cents a share. A

First Call/Thomson Financial

survey of 16 analysts expected the company to earn 23 cents a share.

Quarterly revenue, including sales to customers' warehouses, was $9.9 billion, up from $8.9 billion a year ago. The company's online health care unit, iMcKesson, saw a 9% fall in revenue, with an operating loss of $10.1 million compared with an operating profit of $12.9 million in last year's second quarter.

Shares of McKesson HBOC were recently down $2.75, or 9.3%, to $26.88 in

New York Stock Exchange

trading.