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

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Shake Shack stock soars after reporting earnings beat, raising revenue forecastShares of Shake Shack rose nearly 3% in extended trading on Monday, after the company reported second-quarter earnings that topped Wall Street's expectations and raised its revenue forecast for the year What about Steak and Shake? Sounds like a hipster nightclub.
Source: CNBC - 🏆 12. / 72 Read more »

Disney earnings miss forecasts as costs rise for its streaming futureWalt Disney Co reported a steeper earnings decline than Wall Street expected on ... The movies sucked but future movies like Little Mermaid are going to be even worse! Time to see their stocks!
Source: Reuters - 🏆 2. / 97 Read more »