CVS Reports $69.5B in Fourth-Quarter Revenue, Beats Analysts’ Expectations
WOONSOCKET, R.I. — CVS Health Corp. (NYSE: CVS) reported fourth-quarter revenue of $69.5 billion, exceeding the $68.7 billion projected by analysts, as the Rhode Island-based drugstore and pharmacy expanded its COVID-19 testing and vaccination services. CVS also reported quarterly net income of $975 million, down from $1.7 billion in the fourth quarter of 2019. In addressing the earnings report, CEO Karen Lynch said that the company expects to roll out a wider range of healthcare services in 2021. The stock price of CVS, which operates about 10,000 stores across the United States, opened at $73.57 on Tuesday, Feb. 26, up from $71.19 per share a year ago.