WOONSOCKET, R.I. (AP) – CVS Health Corporation (CVS) on Tuesday reported second-quarter net income of $924 million.
The Woonsocket, Rhode Island-based company said it had net income of 86 cents per share. Earnings, adjusted for non-recurring costs and amortization costs, came to $1.32 per share.
The results exceeded Wall Street expectations. The average estimate of 23 analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.
The drugstore chain and pharmacy benefits manager posted revenue of $43.73 billion in the period, which fell short of Street forecasts. Twenty-four analysts surveyed by Zacks expected $44.23 billion.
For the current quarter ending in October, CVS Health expects its per-share earnings to range from $1.55 to $1.58. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.55.