CVS beats all around and ups expectations for the year

CVS beats all around and ups expectations for the year
FILE- In this Aug. 7, 2018, file photo a CVS Pharmacy building sign rests on a Jackson, Miss., store. CVS Health reports financial results Wednesday, May 1, 2019. (AP Photo/Rogelio V. Solis, File)

WOONSOCKET, R.I. (AP) — CVS Health is reporting a 42% spike in profits during the first quarter and it’s raising its outlook for the year.

The drug store chain posted earnings of .42 billion, or .09 per share. Earnings, adjusted for one-time gains and costs, were .62 per share, which is 12 cents better than expected, according to a survey by Zacks Investment Research.

Revenue was 1.65 billion, also exceeding Street forecasts.

CVS Health Corp. upped its full year operating income expectations on Wednesday from a range of 1.7 billion to 2.1 billion, to between 1.8 billion and 2 billion.

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Portions of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CVS at https://www.zacks.com/ap/CVS