CVS Health Q1 2019 earnings

CVS Health announced Wednesday a first-quarter profit and revenue higher than analysts' expectations and an increase in its earnings guidance for the year.

Here's what the company has reported against Wall Street's expectations, based on Refinitiv's average analyst estimates:

• Adjusted earnings per share: $ 1.62 vs. $ 1.50 expected
• Revenue: 61.65 billion USD vs. 60.39 billion USD expected

This quarter was the first full since CVS finalized its acquisition of the $ 70 billion Aetna health insurer in November.

On an unadjusted basis, CVS 'first-quarter net income for the year was $ 1.42 billion, or $ 1.09 per share, compared to $ 998 million, or 98 cents per share, a year earlier. Excluding Aetna's integration costs, store closures and certain other items, CVS earned $ 1.62 per share versus $ 1.50 per share expected by analysts surveyed by Refinitiv.

Revenues increased 35% to $ 61.65 billion, mainly due to Aetna's new business, exceeding expectations of $ 60.39 billion.

"Following the closing of our Aetna acquisition in late November, our first full quarter of combined operations has been successful in many ways," said CVS CEO Larry Merlo in a statement.

CVS has raised its earnings guidance for 2019 to between 6.75 and 6.90 USD per share, compared to 6.68 USD to 6.88 USD previously.