WOONSOCKET, R.I. (AP) — WOONSOCKET, R.I. (AP) — CVS Health Corporation (CVS) on Wednesday reported first-quarter profit of $2.94 billion.
On a per-share basis, the Woonsocket, Rhode Island-based company said it had profit of $2.30. Earnings, adjusted for one-time gains and costs, were $2.57 per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $2.21 per share.
The drugstore chain and pharmacy benefits manager posted revenue of $100.43 billion in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $94.38 billion.
CVS Health expects full-year earnings in the range of $7.30 to $7.50 per share, with revenue expected to be $405 billion.
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