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CVS fourth-quarter earnings top expectations as Covid tests lift overall store sales


An adolescent receives the Pfizer Covid-19 booster from a CVS pharmacist in New York City, on January 20, 2022.


CVS Health said Wednesday that demand for at-home Covid tests and booster shots lifted overall store sales, helping the company top expectations for fourth-quarter earnings.

The premarket trade saw shares fall by over 2% at the chain of drugstores and insurtech company.

This is what Refinitiv’s analysts surveyed the company to determine what they expected from the company for the period ending Dec. 31.

  • Earnings per share: $1.98 adjusted vs. $1.93 expected
  • Revenue: $76.60 billion vs. $75.67 billion expected

CVS reported fourth-quarter net income at $1.31 trillion, or 99c per share. This is an improvement from 973 million or 74c per share a year prior.

According to the company, its net income for continuing operations was 98cs. It earned $1.98 per shared after making adjustments. This was higher than what analysts polled by Refinitiv expected to earn at $1.93 per sharing.

The total revenue rose from $69.55 billion to $76.60 million a year ago, surpassing expectations Expectations of $75.67 trillion

CVS shares have risen 51% in 12 months. On Tuesday, they reached a 52-week peak. The shares closed Tuesday at $110.83. This is an increase of 1.3%. Its market capitalization is $146.30 Billion.