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WOONSOCKET, R.I. (AP) — CVS swung back to a profit in the second quarter and easily beat expectations thanks in part to its acquisition of the health insurer Aetna.
The drugstore on Wednesday reported profits of $1.94 billion, or $1.49 per share. Earnings, adjusted for one-time items, were $1.89 per share, which was 19 cents better than expected, according to a survey by Zacks Investment Research.
Its revenue of $63.43 billion also topped expectations of $62.61 billion.
For the full year, Wall Street expects earnings of $6.84 per share.
CVS Health Corp. reaffirmed in June its forecast for per-share earnings between $6.75 and $6.90.
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Portions of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CVS at https://www.zacks.com/ap/CVS
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