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CVS Health quarterly profit rises 8 percent

November 6, 2018 Business 2 Views FILE PHOTO: Shoppers walk outside a CVS store and pharmacy in Medford, Massachusetts, U.S.…

FILE PHOTO: Shoppers walk outside a CVS store and pharmacy in Medford, Massachusetts, U.S. December 4, 2017. REUTERS / Brian Snyder / File Photo


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(Reuters) – CVS Health Corp (NYSE: CVS) reported an 8.2 percent increase in quarterly profit on Tuesday, helped by higher sales of prescription drugs at its stores and a smaller tax bill.

The drugstore chain, which expects to close its $ 69 billion acquisition of health insurance company Aetna Inc. (NYSE: AET) this year, said net income rose to $ 1

.39 billion, or $ 1.36 per share , from $ 1.29 billion, or $ 1.26 per share, a year earlier. (https://bit.ly/2D48hy8)

The company said its income tax provision decreased by $ 268 million in the third quarter ended Sept.30.

Net revenue rose 2.4 percent to $ 47.27 billion.

(Reporting by Manas Mishra and Manogna Maddipatla in Bengaluru; Editing by Arun Koyyur)


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