Walgreens Boots Alliance Inc.’s stock jumped 10% early Friday after the troubled drugstore chain posted another loss but blew past estimates on an adjusted basis and said it would continue to work on a turnaround.

Walgreens booked a better-than-expected fiscal first quarter, but the drugstore chain lost $265 million as it closed U.S. stores and continued work to revive its business

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.

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.

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 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.