Shares of Walgreens Boots Alliance Inc. WBA, +1.10% rallied 4.8% in premarket trade Wednesday, after the drugstore chain reported fiscal second-quarter results that beat expectations and raised earnings guidance. Net income for the quarter to Feb. 28 rose to $1.35 billion, or $1.36 a share, from $1.06 billion, or 98 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to $1.73, above the FactSet consensus of $1.55. Revenue grew to $33.02 billion from $29.45 billion, beating the FactSet consensus of $32.20 billion as domestic retail pharmacy and pharmaceutical wholesale sales both rose above expectations. The company raised its 2018 adjusted EPS guidance range to $5.85 to $6.05 from $5.45 to $5.70. The company expects a benefit of $350 million in fiscal 2018 from recent tax legislation. The stock has dropped 9.6% over the past three months through Tuesday and tumbled 21.2% over the past 12 months, while the S&P 500 SPX, -0.41% has gained 10.8% the past year.