Healthcare conglomerate CVS Well being Company (NYSE: CVS) on Wednesday introduced second-quarter 2024 outcomes, reporting a lower in adjusted earnings regardless of greater revenues. Nonetheless, earnings topped expectations.
June-quarter adjusted revenue decreased 17% year-over-year to $1.83 per share however got here in above analysts’ estimates. On a reported foundation, web revenue was $1.77 billion or $1.41 per share in Q2, in comparison with $1.90 billion or $1.48 per share within the prior-year quarter.
In the meantime, revenues elevated 3% year-over-year to $91.2 billion through the three months however fell wanting expectations. Whole same-store gross sales rose 6.4% from final yr.
“We are taking action today to ensure we make the most of our many opportunities, including leadership changes in the Health Care Benefits segment,” mentioned CVS CEO Karen Lynch.