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Drugstore chain CVS posts 17 pct drop in profit
May 2, 2017 / 11:07 AM / 7 months ago

Drugstore chain CVS posts 17 pct drop in profit

May 2 (Reuters) - Drugstore chain and pharmacy benefits manager CVS Health Corp reported a 17 percent drop in quarterly profit, as it filled fewer prescriptions at its pharmacies and lower traffic hurt sales at the front-end of its stores.

Net income attributable to CVS fell to $952 million, or 92 cents per share, in the first quarter ended March 31, from $1.15 billion, or $1.04 per share, a year earlier.

Revenue rose 3 percent to $44.51 billion. (Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Sai Sachin Ravikumar)

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