WOONSOCKET, R.I. (AP) - CVS Health Corporation (CVS) on Friday reported first-quarter earnings of $1.22 billion.
WOONSOCKET, R.I. (AP) — CVS Health Corporation (CVS) on Friday reported first-quarter earnings of $1.22 billion.
The Woonsocket, Rhode Island-based company said it had profit of $1.07 per share. Earnings, adjusted for one-time gains and costs, were $1.14 per share.
The results topped Wall Street expectations. The average estimate of 20 analysts surveyed by Zacks Investment Research was for earnings of $1.08 per share.
The drugstore chain and pharmacy benefits manager posted revenue of $36.33 billion in the period, also exceeding Street forecasts. Nineteen analysts surveyed by Zacks expected $35.92 billion.
For the current quarter ending in June, CVS Health expects its per-share earnings to range from $1.17 to $1.20. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.25.
The company expects full-year earnings in the range of $5.08 to $5.19 per share.
CVS Health shares have risen 3 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed slightly more than 1 percent. The stock has risen 37 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CVS at http://www.zacks.com/ap/CVS
Keywords: CVS Health, Earnings Report, Priority Earnings