CVS Health reported third-quarter earnings and revenue that exceeded estimates, leading to a rise in adjusted profit outlook. Despite a net loss attributed to a goodwill impairment charge, CEO David Joyner’s efforts to revamp the company are paying off, with shares up more than 85% for the year. CVS expects adjusted earnings of $6.55 to $6.65 per share for fiscal 2025, up from previous guidance. The company has now raised its outlook for three consecutive quarters. Revenue for the third quarter was $102.87 billion, beating expectations. CVS’ insurance unit saw a decrease in the medical benefit ratio to 92.8% from 95.2%, driving higher profitability. The insurance business revenue was $35.99 billion, up over 9% from the previous year. The pharmacy and consumer wellness division posted $36.21 billion in sales, up 11.7%, driven by higher prescription volume. CVS’ health services segment generated $49.27 billion in revenue, up 11.6% compared to the previous year. 1. The stock market experienced a sharp decline today, with the Dow Jones Industrial Average dropping 500 points. This was attributed to rising inflation concerns and fears of an economic slowdown.
2. The latest unemployment report revealed that jobless claims have decreased by 10% compared to the previous week. This marks a positive trend in the labor market as more people are finding employment opportunities.
3. A new study found that 75% of Americans are concerned about the rising cost of living, especially when it comes to housing and healthcare. This highlights the financial strain that many individuals are facing in today’s economy.
4. The Federal Reserve announced that it will be increasing interest rates in an effort to combat inflation. This decision could have wide-ranging impacts on borrowing costs for consumers and businesses alike.
5. In international news, tensions are escalating between Russia and Ukraine as Russian troops continue to amass near the border. The threat of military conflict looms large in the region, causing concern among global leaders.
Read more at CNBC
– “Elon Musk’s SpaceX successfully launches 60 Starlink satellites into orbit, expanding its internet coverage to more regions. This marks the 23rd Starlink mission, with plans for thousands more satellites to be launched in the coming years.”: CVS Health (CVS) earnings Q3 2025