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5/4, 12:27 PM (Source: TeleTrader)
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CVS' Q1 revenue at $76.8 billion, up 11% YoY

CVS Health Corporation revealed on Wednesday that its revenue amounted to $76.8 billion in the first quarter of 2022, rising 11% on an annual basis and beating estimates. Net income was up 4% compared to the same period last year, reaching $3.32 billion.

Diluted earnings per share rose to $1.74, jumping 3.6% from $1.68 recorded in the same quarter of 2021. Meanwhile, operating income came in at $3.49 billion, decreasing 2.2% year-on-year from $3.57 billion.

"Our strategy improves access to affordable, convenient and personalized health care, which benefits consumers and shareholders. We once again showed the power of our purpose and potential, building on our strong momentum and raising full-year guidance as a result," CVS Health CEO Karen Lynch stated.

The company's stocks gained 1.17% in the premarket after the release.

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