WOONSOCKET, R.I. – CVS Health Corporation (CVS) on Wednesday reported third-quarter profit of $1.53 billion.
On a per-share basis, the Woonsocket, Rhode Island based company said it had profit of $1.17. Earnings, adjusted for non-recurring costs, were $1.84 per share.
The results surpassed Wall Street expectations. The average estimate of 25 analysts surveyed by Zacks Investment Research was for earnings of $1.77 per share.
The drugstore chain and pharmacy benefits manager posted revenue of $64.81 billion in the period, also topping Street forecasts. Twenty-five analysts surveyed by Zacks expected $63.03 billion.
CVS Health expects full year earnings in the range of $6.97 to $7.05 per share.
CVS Health shares have risen nearly 3% since the beginning of the year, while the Standard & Poor’s 500 index has increased 23%. The stock has declined roughly 9% in the last 12 months.