CVS posts big earnings beat, raises full-year forecast

CVS announced earlier this week it would expand its membership program CarePass nationwide.A pedestrian walks through the parking lot of a CVS Health Corp. store in Oakland, California, Aug. 2, 2019.on Wednesday smashed Wall Street's second-quarter earnings and revenue expectations and raised its full-year forecast.

Here's what the company reported compared with Wall Street estimates, based on a survey of analysts by Refinitiv:Revenue: $63.43 billion vs. $62.65 billion expectedThe company now expects full-year adjusted earnings between $6.89 and $7 per share, up from the previously guided range of $6.75 to $6.90 a share.

CVS spooked the Street earlier this year when it guided well below analysts' expectations. It has raised the estimate a few times since, though the current forecast still falls shy of the $7.41 per share that analysts polled by Refinitiv had initially expected. Still, CVS faces a number of threats, including political pressure to lower drug prices and competition from e-commerce giant

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