CVS Health posts quarterly loss on $3.9 billion charge

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(Reuters) – CVS Health Corp (CVS.N) reported a quarterly loss compared with a year-ago profit on Wednesday, as the drugstore retailer took an impairment charge.

FILE PHOTO A logo of CVS Health is displayed on a monitor above the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., December 5, 2017. REUTERS/Lucas Jackson/File Photo

Net loss attributable to the company was $2.56 billion, or $2.52 per share, in the second quarter ended June 30, compared with a profit of $1.10 billion, or $1.07 per share, a year earlier.

The company said it took a $3.9 billion goodwill impairment charge in the reported quarter.

CVS, which agreed to buy health insurer Aetna (AET.N) in a $69 billion deal in December, said it expects the deal to close during the third quarter or early in the fourth quarter of 2018.

Reporting by Ankur Banerjee in Bengaluru; Editing by Shounak Dasgupta

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