WOONSOCKET, R.I. (AP) _ CVS Health Corporation (CVS) on Wednesday reported second-quarter profit of $2.78 billion.
The Woonsocket, Rhode Island-based company said it had net income of $2.10 per share. Earnings, adjusted for one-time gains and costs, came to $2.42 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.07 per share.
The drugstore chain and pharmacy benefits manager posted revenue of $72.62 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $70.27 billion.
CVS Health expects full-year earnings in the range of $7.70 to $7.80 per share.
CVS Health shares have increased 23% since the beginning of the year, while the S&P's 500 index has risen 18%. The stock has risen 32% 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
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