CVS Health swings to loss in Q2

Discussion in 'CVS Health' started by anonymous, Aug 8, 2018 at 8:25 AM.

  1. anonymous

    anonymous Guest

    CVS Health slipped to a loss in the second quarter from a profit last year, hurt by certain goodwill impairment charges related to the Long-Term Care business. However, revenue and net loss for the quarter exceeded analysts’ expectations. Shares of the pharmacy benefits manager rose 2.24% during the pre-market session after the company tightened its full-year adjusted earnings outlook.

    As previously announced, the acquisition of Aetna (AET) by CVS Health was approved by shareholders of both companies on March 13, 2018. To date, CVS Health has received approval from a substantial number of states and more are expected to approve this summer. The transaction is expected to close during the third quarter or the early part of the fourth quarter of 2018.

    Infographics of the company's results can be found at https://news.alphastreet.com/cvs-health-q2-2018-earnings/