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CVS raises 2020 earnings forecast as fewer insurance claims boost second-quarter profit

from Reuters

CVS raises 2020 earnings forecast as fewer insurance claims boost second-quarter profit Reuters CVS Health raised its full-year profit forecast and beat Wall Street expectations for quarterly profit on Wednesday, as a drop in non-urgent medical procedures due to the COVID-19 pandemic led to fewer claims at its health insurance business. Hospitals also rescheduled elective surgeries to reduce the burden on the healthcare system as coronavirus cases surged, benefiting health insurers including CVS Health and Humana, which also beat quarterly profit estimates on Wednesday, as claims fell. READ MORE

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