CVS Health reports 40% profit jump in Q1 on pandemic purchasing

PBN Staff

05/06/2020

CVS HEALTH reported a 40% rise year over year in profit, which it largely attributed to an increase in purchases of items related to the COVID-19 pandemic. / AP FILE PHOTO/DAVID J. PHILLIP

WOONSOCKET – CVS Health Corp. made a profit of $2 billion in the first quarter, a 40.1% increase year over year, the company reported on Wednesday. Earnings per share were $1.53, compared with $1.09 one year prior. Revenue increased 8.3% year over year to $66.8 billion. The company said revenue in its retail and pharmacy…