CVS Shares Gain 2% After Q4 Profit Beats Expectations

Shares of of CVS Health Corp. gained 2% in premarket trade on Thursday after the company reported profit for the fourth quarter that was higher than expected. Net income from the quarter was $1.71 billion, or $1.59 per share, up compared with last year's $1.50 billion, or $1.34 per share during the same quarter. Adjusted earnings per share were $1.71, which was better than FactSet's $1.67 consensus. Revenue hit $45.97 billion during the quarter, which was improved compared with $41.15 billion during the same quarter a year ago, but below FactSet's consensus of $46.51 billion. CVS said it expects first quarter adjusted per-share earnings to be $1.07 to $1.13. FactSet's EPS consensus is $1.11. Shares of CVS have dropped nearly 15% in the trailing 12-month period, while the S&P 500 Index is up almost 24%.