Wednesday, February 12, 2020

CVS Health beats on fourth-quarter earnings and revenue

CVS Health on Wednesday reported fourth-quarter earnings and revenue that beat Wall Street’s expectations, boosted by higher sales in its pharmacy benefit management business.

Same-store sales rose 3.2% during the quarter, with sales in its pharmacy unit up 4.1%, CVS reported. The company’s pharmacy unit reported revenue of $37 billion during the three months ended Dec. 31. That compares with $34 billion last year. It’s retail segment, which includes general merchandise and prescription refills, reported revenue of $22.5 billion, slightly above what it made last year.. . . more