CVS Health Corporation reported strong first quarter 2023 profits of $2.1 billion. It also reported strong first quarter revenues of $85.3 billion, up 11% from the prior year quarter. Both CVS’s first quarter profits and revenues beat analysts’ expectations.
Revenues were also sharply up at CVS’s health care benefits segment, which includes Aetna. CVS reported that its health care benefits segment’s first quarter revenues were $25.9 million, up from $23.1 billion in the prior year quarter, an increase of 12.1%.
CVS’s medical membership as of March 31, 2023 was 25.5 million members, an increase of 1.1 million members from December 31, 2022, with increases across all product lines.
CVS’s earnings report is linked here.