CVS Profits Eclipse $2.9 Billion As Aetna Health Plan Costs Ease

CVS Health reported stronger first-quarter profit, with net income rising to $2.96 billion.

Aetna’s medical benefit ratio improved to 84.6% as health plan costs eased and a prior-year reserve was not repeated.

Revenue increased to $100.4 billion, while membership fell after CVS exited Affordable Care Act exchange coverage.

The company raised its full-year earnings outlook, signaling better cost trends and execution across its businesses.