NEW YORK (AP) — CVS Caremark Corp. said Thursday that its first-quarter net income fell nearly 8 percent as its pharmacy benefits management business continued to report lower profits.
The Woonsocket, R.I., company said its profit fell to $713 million, or 52 cents per share, from $771 million, or 55 cents per share. Its revenue grew 9 percent to $25.88 billion from $23.76 billion.
Excluding acquisition and other charges, the company said it earned 57 cents per share. FactSet said analysts expected a profit of 55 cents per share and $25.76 billion in revenue.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
