WOONSOCKET, R.I. (AP) – CVS Health Corporation (CVS) on Tuesday reported second-quarter earnings of $1.27 billion.
The Woonsocket, Rhode Island-based company said it had profit of $1.12 per share. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, came to $1.22 per share.
The results exceeded Wall Street expectations. The average estimate of 24 analysts surveyed by Zacks Investment Research was for earnings of $1.20 per share.
The drugstore chain and pharmacy benefits manager posted revenue of $37.17 billion in the period, which also beat Street forecasts. Twenty-five analysts surveyed by Zacks expected $37.16 billion.
For the current quarter ending in September, CVS Health expects its per-share earnings to range from $1.27 to $1.30. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.37.