CVS Health Corp. Q1 Profit Decreases, but beats estimates

(RTTNews) - CVS Health Corp. (CVS) revealed a profit for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $2.136 billion, or $1.65 per share. This compares with $2.354 billion, or $1.77 per share, in last year's first quarter.

Excluding items, CVS Health Corp. reported adjusted earnings of $2.839 billion or $2.20 per share for the period.

Analysts on average had expected the company to earn $2.09 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.0% to $85.278 billion from $76.826 billion last year.

CVS Health Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $2.136 Bln. vs. $2.354 Bln. last year. -EPS (Q1): $1.65 vs. $1.77 last year. -Analyst Estimates: $2.09 -Revenue (Q1): $85.278 Bln vs. $76.826 Bln last year.

-Guidance: Full year EPS guidance: $8.50 to $8.70