CVS Health Corp. said its normalized net income for the first quarter was $1.10 per share, compared with the S&P Capital IQ consensus estimate of $1.08 per share.
EPS increased 12.2% year over year from 98 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.25 billion, an increase of 7.1% from $1.17 billion in the prior-year period.
The normalized profit margin fell to 3.4% from 3.6% in the year-earlier period.
Total revenue climbed 11.1% on an annual basis to $36.33 billion from $32.69 billion, and total operating expenses climbed 11.5% year over year to $34.20 billion from $30.66 billion.
Reported net income increased 7.5% year over year to $1.22 billion, or $1.07 per share, from $1.13 billion, or 95 cents per share.
