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WOONSOCKET, R.I. (AP) — CVS Health's fourth-quarter profit rose 13 percent, as acquisition gains helped the drugstore operator and pharmacy benefits manager meet Wall Street's earnings expectations.
CVS Health Corporation reported fourth-quarter earnings of $1.5 billion. The Woonsocket, Rhode Island-based company says it had profit of $1.34 per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to $1.53 per share.
The results met Wall Street expectations. The average estimate of 19 analysts surveyed by Zacks Investment Research was also for earnings of $1.53 per share.
The drugstore chain and pharmacy benefits manager posted revenue of $41.15 billion in the period, beating Street forecasts.
For the current quarter ending in April, CVS Health expects its per-share earnings to range from $1.14 to $1.17. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.19.
The company expects full-year earnings in the range of $5.73 to $5.88 per share.
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