CVS Health Corporation reported strong third quarter 2023 profits of $2.3 billion. It also reported strong third quarter revenues of $89.8 billion, up 8.6% from the prior year quarter. Revenues are up 10.6% for the year compared with 2022. Both CVS Health’s third quarter profits and revenues beat analysts’ expectations.
Revenues were also sharply up at CVS’s Health Care Benefits segment, which includes Aetna. CVS Health reported that its Health Care Benefits Segment’s third quarter revenues were $26.3 billion, up from $22.5 billion in the prior year quarter, an increase of 16.9%.
CVS Health’s medical membership as of September 30, 2023 was 25.7 million members, with increases in both its commercial and Medicare Advantage products. CVS Health’s earnings release also stated that it had announced its largest offering of Medicare products in Aetna’s history for 2024.
CVS’s earnings report is linked here.