CVS Trim posted a better-than-expected first-quarter profit on Wednesday, helped by higher yard sales of prescription drugs at its stores, sending its shares up 4.3 percent in merchandising before the bell.
The company also said that it was sticking with its expectations of minute the $69 billion deal to buy Aetna in the second half of the year.
CVS’s compute same store sales increased 5.8 percent, while Rather same store sales surged 7.3 percent on higher rates of branded drugs and partnerships with other pharmacy benefits foremen.
Overall revenue from the company’s retail business increased 5.6 percent to hither $20.4 billion.
However, the company’s retail business accounts for a wilt share of its total sales, with most revenue now coming from its pharmacopoeia benefits manager, which serves as a middleman between insurance public limited companies, pharmacies and drugmakers.
Net revenue from its pharmacy benefit management commerce rose 3.2 percent to $32.22 billion, driven by higher asserts on costlier drugs among other things.
Net income attributable to the coterie rose to $998 million, or 98 cents per share, in the reported caserne ended March 31 from $952 million, or 92 cents per divide up, a year earlier.
Net revenue rose 2.6 percent to $45.69 billion.
Excluding memoranda, it earned $1.48 per share, beating analysts’ estimates of $1.41, correspondence to Thomson Reuters I/B/E/S.