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CVS Health’s Third-Quarter Proceeds Rises By Over 10% On Aetna Sales

Recently, CVS Health reported its earnings for the third quarter that surpassed Wall Street’s projections as its Aetna insurance business aided in increasing the company’s profit by over 10%. As per a survey of analysts by Refinitiv, the EPS (earnings per share) was $1.84 adjusted versus $1.77 anticipated. The revenue was$63.81 Billion versus $62.99 Billion projected. CVS posted net income of $1.53 Billion or $1.17 a share, which was up by 10% from $1.39 Billion and $1.36 a share of 2018. Exclusive of one-time items—like a charge related to closing stores—CVS gained $1.84 a share, which was more than $1.77 a share anticipated by analysts polled by Refinitiv. The revenue attained $63.81 Billion that shows a sharp surge from the last year before CVS obtained health insurer Aetna in November.

With the takeover, CVS’ portfolio comprised of a health insurer, a chain of around 9,900 drugstores, and a pharmacy benefits manager. In a call reviewing the results, Larry Merlo—CEO of CVS—said to analysts, “Outstandingly, our teams are functioning together in the enterprise to increase value to our consumers, members, shareholders, and patients, and our financial performance this year reveals their attempts to continue using our unmatched arrangement of belongings by improving services and producing products to further develop and differentiate our businesses.”

On a related note, earlier, CVS Health announced new funding valued $2.5 Million to help in building healthier communities in Ohio. As a part of its promise to build healthier communities, CVS publicized its private charity would be donating over $2.5 Million in Ohio in the next 3 Years to advance the wellness and health of Ohioans. The new funding by CVS Health Foundation will aid in supporting Ohio nonprofits since they deal with critical health problems that the state is presently facing.

Charles Woll
Charles Woll Author
Chief Marketing Manager At News Magazine 24

Charles is a Chief Marketing Manager at our company. He is good at content marketing, his job duties include all social media-related marketing, blogging, and publishing related operations. Charles is with us from last 5 Years and has pursued a post-graduate diploma in marketing management. In his free time, he guides team-mates regarding business and share thoughts on media-related content.

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