Salem Radio Network News Saturday, May 8, 2021

Business

CVS Health profit rises nearly 11% on drug store sales

(Reuters) – CVS Health Corp reported a 10.5% rise in first-quarter profit on Tuesday, helped in part by higher sales at its drug stores, with more customers seeking COVID-19 tests and vaccinations.

The company has been offering COVID-19 tests and vaccines as part of the ongoing federal program, which CVS hopes will increase footfall at its drug stores.

CVS Health’s net profit rose to $2.22 billion, or $1.68 per share, in the reported quarter, from $2.01 billion, or $1.53 per share, a year earlier.

Sales rose to $69.1 billion from $66.76 billion.

(Reporting by Manojna Maddipatla and Mrinalika Roy in Bengaluru; Editing by Shounak Dasgupta)

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