CVS Stock Surges On Q3 Earnings, Profit Outlook, Opioid Settlement

CVS Stock Surges On Q3 Earnings, Profit Outlook, Opioid Settlement

CVS Health Corp. (CVS) Wednesday delivered better-than-expected third-quarter results and raised its full-year earnings forecast, offsetting the impact of a $5 billion agreement to settle lawsuits related to the U.S. opioid crisis.

CVS said adjusted earnings for the three months ended September were pegged at $2.09 per share, up 6.1% from the same period last year and 10 cents higher than the Street consensus forecast. The group’s revenue, CVS said, rose 10% from last year to $81.2 billion, again surpassing analyst estimates of a total of $76.5 billion.

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