By Bill Berkrot

NEW YORK (Reuters) - Pharmaceutical wholesaler McKesson Corp (MCK.N: Quote, Profile, Research) reported a flat quarterly profit on Wednesday, but revenue rose 9 percent and the company raised its full-year earnings forecast.

Net profit was $235 million, or 83 cents per share, for the fiscal first quarter ended June 30, compared with $235 million, or 77 cents per share, a year earlier.

That topped analysts' average expectations by 3 cents, according to Reuters Estimates, but the company said per-share profit was helped by share repurchases totaling $130 million.

McKesson, which said last quarter that it expected business to accelerate in the second half of its fiscal year, raised its full-year earnings forecast to a range of $4.00 to $4.15 per share from its prior view of $3.75 to $3.90.

The San Francisco-based company said it still expected second-quarter results to be flat to up slightly.

McKesson said it planned to release a tax reserve of $65 million in the September quarter, which contributed to its revised forecast.

"The guidance without the tax reserve really stays the same," said Deutsche Bank analyst Barbara Ryan.

"The quarter was fine. It was in line with expectations, but maybe the quality was a little lower that people would have liked," Ryan said.