CVS Profit Tops Expectations, Easing High Health Cost Fears
- Executives had warned of increasing expenses in December
- Surging costs in Medicare Advantage plans has hit sector
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CVS Health Corp. reported better fourth-quarter results than Wall Street expected, relieving investor concerns about the impact of rising care expenses in its Aetna insurance unit.
Adjusted earnings for the quarter were $2.12 a share, according to a statement Wednesday, beating the $1.98 average estimate of analysts surveyed by Bloomberg. Revenue rose to $93.8 billion, exceeding Wall Street’s expectations.