CVS’s Growing Drug Business Makes Up for Quitting Tobacco
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CVS Health Corp. beat analysts’ third-quarter estimates as prescription drug sales made up for the drop in revenue the company suffered after it quit selling tobacco products at its retail pharmacies.
Profit excluding one-time items of $1.15 a share beat by 2 cents the average of analysts’ estimates compiled by Bloomberg. Revenue at the front of the store, where CVS previously sold tobacco items, fell 4.5 percent, based on same-store sales.