CVS Beats Earnings Expectations, Provides Upbeat Earnings Outlook

CVS Health Corp. shares were up 0.2% in pre-market trade after the company beat earnings expectations and provided an upbeat earnings outlook. Earnings for the latest quarter fell to $1.15 billion, or $1.04 per share, from $1.22 billion, or $1.07 per share, in the same period a year ago. Adjusted earnings-per-share were $1.18, above the FactSet consensus of $1.16. Revenue rose to $43.2 billion, up 18.9%, beating the FactSet consensus of $43.0 billion. For 2016, CVS expects adjusted EPS of $5.73 to $5.88, around the FactSet consensus of $5.82. The company said it expects adjusted EPS in the second quarter to be $1.28 to $1.31, above the FactSet consensus of $1.16. Shares in the company rose 6.4% in the last three months, compared with a 8.8% rise in the S&P 500 .

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