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CVS Health raises full-year profit forecast on insurance business strength

05 Tháng Năm 2022
CVS Health raises full-year profit forecast on insurance business strength © Reuters. CVS Health logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) -CVS Health Corp's raised its full-year adjusted profit forecast on Wednesday, driven by strong performance at its health insurance and pharmacy benefit management businesses in the first quarter.

Pharmacy chains like CVS have benefited from distribution of COVID-19 vaccines and tests during the pandemic. However, In February, the company said it expected a big decline in COVID vaccination and testing administered at its stores this year.

Net income attributable to the company's shareholders rose to $2.31 billion, or $1.74 per share, in the first quarter ended March 31, from $2.22 billion, or $1.68 per share, a year earlier.

Revenue rose to $76.82 billion from $69.1 billion a year earlier.

The company now expects 2022 full-year adjusted profit between $8.20 and $8.40 per share, higher than its prior guidance of $8.10 and $8.30 per share.

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21-05-2022 20:28:27 (UTC+7)

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 EUR/USD1.0562↑ Buy
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 USD/JPY127.86Neutral
 AUD/USD0.7039Sell
 USD/CAD1.2839↑ Buy
 EUR/JPY135.05Neutral
 EUR/CHF1.0296↑ Buy
 Gold1,845.10↑ Buy
 Silver21.765↑ Sell
 Copper4.3042↑ Buy
 Crude Oil WTI110.35↑ Sell
 Brent Oil112.91↑ Sell
 Natural Gas8.058↑ Sell
 US Coffee C216.48↑ Buy
 Euro Stoxx 503,657.03↑ Buy
 S&P 5003,901.36↑ Buy
 DAX13,981.91Buy
 FTSE 1007,389.98Neutral
 Hang Seng20,717.24↑ Sell
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 IBEX 358,484.50Neutral
 BASF48.850Buy
 Bayer63.74Buy
 Allianz195.58Buy
 Adidas172.80Buy
 Lufthansa6.852↑ Sell
 Siemens AG115.08Neutral
 Deutsche Bank AG9.362Buy
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