CVS Health reports 18.9% jump in Q1 revenue, tops Wall Street expectations

Woonsocket, R.I.-based CVS Health has posted its fiscal year 2016 first quarter results for the three months ended March 31, 2016.

From the first quarter of 2015 to the first quarter of 2016, CVS Health's net revenue increased 18.9 percent from $36.3 billion to $43.2 billion. This result beats Wall Street analysts' first quarter expectations for the company, according to The Associated Press. Twenty-six analysts surveyed by Zacks Investment Research predicted net revenues of $42.98 billion.

During the same period, revenue for its pharmacy segment rose 20.5 percent to $28.8 billion. Revenue for its retail segment increased 18.6 percent to $20.1 billion.

Between the first quarter of 2015 and the first quarter of 2016, operating profit also grew 2 percent from $2.13 billion to $2.18 billion.

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