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Home / Business / CVS Health Tops Q3 earnings forecast, increasing 2020 outlook

CVS Health Tops Q3 earnings forecast, increasing 2020 outlook



CVS Health Corp. (CVS) – Receive reports posted higher-than-expected third-quarter earnings on Friday and raised its full-year profit outlook, as health care benefits sales and improves store traffic. , promote corporate profits.

The group also said that longtime CEO Larry Merlo, who has led the group since 2011, will retire in February next year and will be replaced by Karen Lynch, who currently runs the Aetna Healthcare division. Group.

CVS says adjusted earnings for the three months ending September are pegged at $ 1.66 per share, down nearly 1

0 percent year-on-year but far ahead of Street’s consensus forecast of 1, 33 USD / share. The group’s revenue rose 3.5 percent to $ 67.1 billion, CVS said, beating analysts’ estimates of $ 66.57 billion. Sales at similar stores, the company said, were up 5.7 percent year on year, more than double the Street consensus forecast.




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