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CVS Health Corp shares sink marginally after third quarter profits drop

The pharma and healthcare group revealed that it profit fell to US$1.53 billion in the three months
CVS Health Corp shares sink marginally after third quarter profits drop
Analysts had expected the company to earn US$1.49 per share, according to consensus figures

CVS Health Corp Inc (NYSE:CVS) saw shares drop 0.45% on Monday as it  revealed a 13% drop in profits for its third quarter, versus last year.

The Rhode Island based pharma and healthcare group revealed that it profit fell to US$1.53 billion in the  three months, or US$1.50 per share.

This was down from US$1.75bn, or $1.64 per share, in last year's third quarter.

Analysts had expected the company to earn US$1.49 per share, according to consensus figures.

Revenue, however, for the quarter rose 3.5% to US$46.18 billion - up from $44.62 billion last year.

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November 14 2017

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