Categories AlphaGraphs, Earnings, Retail

CVS Health stock rises on better-than-expected Q3 earnings

CVS Health (NYSE: CVS) reported third-quarter 2020 financial results before the market hours on Friday. The retail pharmacy reported a 4% growth in Q3 revenue to $67.1 billion, surpassing the Wall Street consensus. The company reported a net income of $1.66 per share, better than the estimates set by analysts.

CVS shares rose 3.2% immediately following the announcement. The stock has fallen 17% since the beginning of this year.

CVS health Q3 2020 earnings

CEO Larry Merlo said, “We’ve opened more than 4,000 COVID-19 test sites across the country since March, and have administered over six million tests. We’re helping businesses and universities safely reopen and we were recently selected to administer COVID-19 vaccinations in long-term care facilities.” 

Looking forward to listening to management/ analyst comments on Q3 results? Stay tuned here for CVS Health Q3 2020 earnings call transcript

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