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GDP: U.S. economy grows at faster-than-expected pace in second quarter as inflation eases

CVS Health: Q1 Earnings Snapshot

Associated Press Finance
·1 min read

WOONSOCKET, R.I. (AP) — WOONSOCKET, R.I. (AP) — CVS Health Corporation (CVS) on Wednesday reported first-quarter net income of $1.11 billion.

On a per-share basis, the Woonsocket, Rhode Island-based company said it had net income of 88 cents. Earnings, adjusted for one-time gains and costs, were $1.31 per share.

The results missed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.69 per share.

The drugstore chain and pharmacy benefits manager posted revenue of $88.44 billion in the period, which also missed Street forecasts. Nine analysts surveyed by Zacks expected $89.2 billion.

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CVS Health expects full-year earnings to be $7 per share.

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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 https://www.zacks.com/ap/CVS