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CVS gets a booster shot from Aetna, revenue soars

WOONSOCKET, R.I. (AP) — CVS Health is reporting a 36.5% revenue surge in the first reporting period that includes its acquisition of Aetna, one of the nation’s largest insurers.

The drugstore chain and pharmacy benefits manager said Wednesday that net income ballooned to $1.53 billion, or $1.17 per share. When adjusted for one-time charges, per-share earnings were $1.84, easily topping the $1.77 that Wall Street had anticipated, according to a survey by Zacks Investment Research.

Revenue of $64.81 billion also breezed past projections of $63.03 billion.

CVS Health Corp. is raising per-share earnings guidance for the year from $6.89 to $7, to between $6.97 and $7.05.

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Some of 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

Associated Press

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