Tuesday, August 2, 2016

CVS Health adjusted earnings for Q2 exceed analyst estimates

Image result for cvs pharmacy in targetCVS Health on Tuesday reported an increase of 17.6% in net revenues for the three months ended June 30, 2016, to $43.7 billion. Revenues in the Pharmacy Services Segment increased 20.7% to $29.5 billion in the three months ended June 30, 2016, which CVS Health attributed to an increased pharmacy network claim volume and growth in specialty pharmacy.

Revenues in the Retail/LTC Segment increased 16% to approximately $20 billion for the quarter. The increase was primarily driven by the addition of the long-term care pharmacy operations acquired as part of the acquisition of Omnicare in August 2015, the addition of the pharmacies and clinics of Target Corporation acquired in December 2015 and pharmacy same-store sales growth.. . . more

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