CVS Health Corp. Q1 Profit Increases, beats estimates

(RTTNews) - CVS Health Corp. (CVS) reported a profit for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $2.31 billion, or $1.74 per share. This compares with $2.22 billion, or $1.68 per share, in last year's first quarter.

Excluding items, CVS Health Corp. reported adjusted earnings of $2.94 billion or $2.22 per share for the period.

Analysts on average had expected the company to earn $2.15 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.2% to $76.83 billion from $69.10 billion last year.

CVS Health Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $2.31 Bln. vs. $2.22 Bln. last year. -EPS (Q1): $1.74 vs. $1.68 last year. -Analyst Estimate: $2.15 -Revenue (Q1): $76.83 Bln vs. $69.10 Bln last year.

-Guidance: Full year EPS guidance: Adj; $8.20 to $8.40