CVS Health Corp. (CVS) said Wednesday its third-quarter net income increased to $1.59 billion, or $1.20 a share, from $1.22 billion, or 93 cents a share in the year-ago period. Adjusted earnings rose to $1.97 a share from $1.66 a share. Revenue rose by 10% to $73.8 billion from $67.1 billion. Analysts expected the company to earn $1.79 a share on revenue of $70.5 billion, according to a survey by FactSet. CVS tweaked its adjusted 2021 earnings outlook to a range of $7.90 to $8 a share, from its earlier view of $7.70 to $7.80 a share. Analysts were looking for 2021 earnings of $7.79 a share. CVS Health president and CEO Karen S. Lynch said the company "outperformed expectations once again and continue to lead the way in changing how, when and where care is delivered for millions of Americans." Shares of CVS are up 33.5% in 2021, compared to a rise of 23.3% by the S&P 500. The stock fell 1.2% in pre-market trades.
(END) Dow Jones Newswires
November 03, 2021 06:58 ET (10:58 GMT)
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