WOONSOCKET, R.I. (AP) _ CVS Health Corporation (CVS) on Wednesday reported first-quarter net income of $2.01 billion.

On a per-share basis, the Woonsocket, Rhode Island-based company said it had profit of $1.53. Earnings, adjusted for costs related to mergers and acquisitions, came to $1.91 per share.

The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.63 per share.

The drugstore chain and pharmacy benefits manager posted revenue of $66.76 billion in the period, also beating Street forecasts. Thirteen analysts surveyed by Zacks expected $63.13 billion.

CVS Health expects full-year earnings in the range of $7.04 to $7.17 per share.

CVS Health shares have declined 18% since the beginning of the year, while the Standard & Poor's 500 index has declined 11%. The stock has risen 8% in the last 12 months.

This story was 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

Automated Insights, source Associated Press News