Cardinal Health ( CAH) is flying high. The giant drug distributor on Thursday soared past Wall Street expectations for its second fiscal quarter, lifted by strong results in all its core businesses. Revenue climbed 13% to $21.8 billion, topping the consensus estimate by $300 million. Net income more than doubled to $739 million, with operating profits of 83 cents a share topping Wall Street targets by a nickel. "We performed well during the quarter, with solid top-line growth in each business segment, while maintaining the discipline in our operations to also deliver double-digit operating earnings growth in all four segments," Cardinal CEO Kerry Clark announced. "We feel very good about the momentum we have established through the first half of the year." Cardinal reiterated its 2007 earnings guidance of $3.25 to $3.40 a share. Wall Street is looking for profits to hit the upper end of that range. JMP Securities analyst Alexander Draper upgraded Cardinal's stock earlier this week in anticipation of strong results from the company. Draper now has an outperform rating and an $80 price target on Cardinal's shares. Shares rose 97 cents early Thursday to $71. "The last three years have been challenging for Cardinal, as the stock's 2% (compound annual growth rate) has underperformed its peers McKesson ( MCK) and AmerisourceBergen ( ABC) as well as the S&P 500," Draper acknowledged on Tuesday. But "we think the next three years could be different."