CVS Health Corp. Q1 Profit Decreases, misses estimates

(RTTNews) - CVS Health Corp. (CVS) revealed a profit for first quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings came in at $1.11 billion, or $0.88 per share. This compares with $2.14 billion, or $1.65 per share, in last year's first quarter.

Excluding items, CVS Health Corp. reported adjusted earnings of $1.66 billion or $1.31 per share for the period.

Analysts on average had expected the company to earn $1.69 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.7% to $88.44 billion from $85.28 billion last year.

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

-Earnings (Q1): $1.11 Bln. vs. $2.14 Bln. last year. -EPS (Q1): $0.88 vs. $1.65 last year. -Revenue (Q1): $88.44 Bln vs. $85.28 Bln last year.

-Guidance: Full year EPS guidance: $7.00