CVS Health’ topped Wall Street’s expectations with its retail pharmacy business fueling growth despite fewer customers shopping in the front of its stores.
Revenue from CVS’ retail pharmacy segment reached $20.7 billion, up 5.7 percent from the year-ago quarter, driven by an 8.3 percent increase in pharmacy revenue. Revenue from front-end sales, which includes goods like greeting cards and household items, grew just 0.2 percent.
Same-store prescription volume surged 9.5 percent, while front-end same-store sales dipped 1 percent.