CVS Gains As Q1 Earnings Beats Estimates

Key points:

CVS reported first quarter earnings before the open
The company beat earnings and revenue expectations
It also raised full-year earnings guidance
CVS Shares Fall Despite Earnings, Revenue Beat

CVS Health Corporation (NYSE: CVS)reported first-quarter earnings before the open Wednesday, beating analyst estimates.

The company announced adjusted earnings per share of $2.22, with revenue coming in at $76.83 billion.

The numbers reported were against an anticipated EPS of $2.15 and revenue of $75.39 billion.

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Also Read: What Do Quarterly Earnings Mean for Investors?

In reaction to the report, CVS’s share price has moved 1.8% higher to $97.71.

The company also raised its guidance for the full year, expecting adjusted earnings per share between $8.20 to $8.40 from the previous $8.10 to $8.30.

“Our strategy improves access to affordable, convenient and personalized health care, which benefits consumers and shareholders. We once again showed the power of our purpose and potential, building on our strong momentum and raising full-year guidance as a result,” said Karen Lynch, CVS Health President, and CEO.