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CVS Health Corp Q3 quarterly profit falls on pre-tax loss

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CVS Health on Tuesday posted a lower-than-expected quarterly profit hurt by a pre-tax loss on early retirement of debt.

CVS, which operates the No. 2 U.S. drugstore chain and a major pharmacy benefits management business, earned $948 million, or 81 cents per share, in its third quarter, down from $1.25 billion, or $1.02 per share, a year earlier.

Excluding the pre-tax loss and other items, net income rose 5 percent.

Revenue in the quarter ended Sept. 30 rose 9.7 percent to $35 billion.