CVS Health Corp. missed Wall Street's revenue expectations in the third quarter, despite sales jumping due to acquisitions. The operator of the second-largest U.S. drugstore chain reported a 23.5 percent boost in profit to $1.54 billion, or $1.43 per share. The bulk of the revenue boost came from the CVS pharmacy benefits unit, with an increase of 19.2 percent to $4.9 billion. The company noted that its retail pharmacy market share increased more than 2 percentage points in the third quarter, to 23.8 percent. "While we expect a healthy increase in PBM operating profit growth in 2017, we expect a decrease in retail operating profit growth," CVS Chief Executive Larry Merlo said in a statement.

Source: ABC News November 08, 2016 14:53 UTC