CVS Health Raises Outlook Following Q3 Earnings

CVS Health (NYSE: CVS) reported Strong third-quarter earnings Wednesday morning, beating Wall Street expectations. Shares shot up approximately 4%inn early morning trading following the news.

The American healthcare company reported USD2.09 per share, compared to the expected USD1.99 a share. Revenue rose 10%, amounting to USD81.16 Billion, higher than analysts anticipated USD76.75 Billion. This is the third consecutive quarter in which the company beat earnings expectations. 

“We delivered another outstanding quarter, and have raised full-year guidance as a result. We continue to execute on our strategy with a focus on expanding capabilities in health care delivery, and the announced acquisition of Signify Health will further strengthen our engagement with consumers.”

Additionally, CVS also started selling over-the-counter hearing aids, following a change in categorization from the Food and Drug Administration. The company is continuing to grow its healthcare business. CEO Karen Lynch stated that CVS is currently looking to acquire a company to provide primary care services.