CVS Health profit rises nearly 11% on drug store sales By Reuters

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© Reuters. FILE PHOTO: People walk by a CVS Pharmacy store in the Manhattan borough of New York City, New York, U.S., November 30, 2017. REUTERS/Shannon Stapleton

(Reuters) – CVS Health Corp (NYSE:) reported a 10.5% rise in first-quarter profit on Tuesday, helped in part by higher sales at its drug stores, with more customers seeking COVID-19 tests and vaccinations.

The company has been offering COVID-19 tests and vaccines as part of the ongoing federal program, which CVS hopes will increase footfall at its drug stores.

CVS Health’s net profit rose to $2.22 billion, or $1.68 per share, in the reported quarter, from $2.01 billion, or $1.53 per share, a year earlier.

Sales rose to $69.1 billion from $66.76 billion.

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