CVS Well being (CVS) Revenue Q2 2021
A peek outside a CVS pharmacy store on July 16, 2020 in Miramar, Florida.
Johnny Louis | Getty Images
CVS Health exceeded analyst expectations for second quarter earnings on Wednesday and raised its forecast for the year amid rising coronavirus cases in the US and efforts to revive the country’s vaccination campaign.
The shares of the drugstore chain and health insurance gained less than 1% in pre-market trading.
Here’s what the company reported for the three months ended June 30, compared to analyst expectations based on an analyst survey conducted by Refinitiv:
- Adjusted earnings per share: $ 2.42 adjusted vs. $ 2.06 expected
- Revenue: $ 72.62 billion versus $ 70.3 billion expected
CVS reported net income of $ 2.78 billion, or $ 2.10 per share, for the second quarter, compared to $ 2.98 billion or $ 2.26 per share last year.
Without items, it made $ 2.42 per share, more than the $ 2.06 per share that Refinitiv polled analysts had expected.
The company’s revenue rose to $ 72.62 billion from $ 65.34 billion a year ago, beating analysts’ expectations of $ 70.3 billion.
CVS has raised its forecast for the year. Income is expected to be between $ 6.35 and $ 6.45 for 2021, and between $ 7.70 and $ 7.80 after adjustments per share.
At the close of trading on Tuesday, CVS’s shares were up approximately 23% that year. The shares closed at $ 84.00 on Tuesday, bringing the company’s market value to $ 110.59 billion.