After an 11% profit spike, CVS outlook for 2021 grows rosy

CVS Health hiked its 2021 forecast and beat Wall Street’s first-quarter expectations as a growing insurance business countered hits the health care giant took from a weak cold and flu season. The company covered more people through Medicaid and Medicare Advantage, and adjusted operating earnings from health insurance jumped nearly 20% in the quarter. CVS Health also delivered more than 23 million COVID-19 tests and 17 million vaccine doses through April, which helped its drugstore business. But the on-going pandemic also hurt sales of drugs and products that help customers deal with colds and the flu.