CVS posts big earnings miss, cuts profit outlook on higher medical costs

📆 01/05/2024 06:03 a. m.
📰 NBCNewYork

⏱ Reading Time:
28 sec. here
2 min. at publisher
📊 Quality Score:
News: 15%
Publisher: 63%

News Noticias

México Últimas Noticias,México Titulares

CVS and other insurers have seen medical costs spike as many Medicare Advantage patients return to hospitals to undergo procedures they delayed during Covid.

CVS Health on Wednesday reported first-quarter revenue and adjusted earnings that missed expectations.

CVS also cut its unadjusted earnings guidance to at least $5.64 per share, down from at least $7.06 per share. Medicare Advantage, a privately run health insurance plan contracted by Medicare, has long been a key source of growth and profits for the insurance industry. But investors have become more concerned about the runaway costs associated with those plans, which cover

CVS booked sales of $88.44 billion for the quarter, up nearly 4% from the year-earlier period. That increase was driven by its pharmacy business and insurance unit.

Escribir Comentario

Hemos resumido esta noticia para que puedas leerla rápidamente. Si estás interesado en la noticia, puedes leer el texto completo aquí. Leer más:

México Últimas Noticias, México Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Health insurer stocks slide as final Medicare Advantage rates disappointThe rate adds more pressure on insurers already grappling with high medical costs and uncertainty after the cyberattack on UnitedHealth Group's tech unit.
Fuente: CNBC - 🏆 12. / 72 Leer más »