Shares of Walgreens Boots Alliance (NASDAQ: WBA) rocketed 27.5% higher on Friday, Jan. 10, 2024. Investors of all stripes are wondering whether more gains could be ahead for the beaten-down retail pharmacy chain operator.

Walgreens Boots Alliance posted a wider quarterly loss, hit by the costs of closing stores and weaker retail sales, but shares surged after a smaller-than-expected drop in adjusted earnings. Walgreens shares soared more than 28% to$11.

Shares of Walgreens Boots Alliance rose Friday morning after the pharmacy retailer reported first-quarter results that included better revenue and adjusted profits than analysts had expected.

Walgreens stock is soaring Friday after the embattled pharmacy chain reported strong earnings and gave an upbeat outlook.

Key Takeaways Walgreens is set to report earnings Friday morning. The pharmacy chain was the worst-performing stock in the S&P 500 last year, falling more than 60%.Analysts mostly rate Walgreens stock as a "hold,

The drugstore chain operator's stock was one of Wall Street's worst performers last year. Walgreens Boots Alliance's latest earnings report shows that its turnaround efforts are paying off. However, shareholders finally got a reason to smile when the company reported its latest results.

The troubled retail pharmacy chain Walgreens Boots Alliance reported financial results early Friday that weren’t quite as bad as analysts had anticipated, sending shares sharply higher in morning trading.

The company's turnaround plan will continue, and though Walgreens CEO Tim Wentworth said it will take time, he also said "our early progress reinforces our belief in a sustainable, retail pharmacy-led operating model.