CVS Health reported second-quarter 2025 revenue of $98.92 billion, an 8.4% increase from a year earlier and ahead of the $94.50 billion consensus. Adjusted earnings per share came in at $1.81, beating the $1.46 average analyst estimate, while GAAP diluted EPS fell to $0.80 after the company recorded $833 million in litigation charges. Improved performance at the Aetna insurance business helped hold the medical benefit ratio to 89.9%, better than the 91.16% analysts expected. The retail-pharmacy and pharmacy-benefit management operations also posted double-digit revenue growth as prescription volumes increased. On the strength of the quarter, CVS raised its full-year 2025 adjusted EPS forecast to $6.30–$6.40 from $6.00–$6.20 and now expects at least $7.5 billion in operating cash flow. Management said the results mark a second consecutive quarter of operational progress after last year’s earnings shortfalls. The upbeat numbers sent CVS shares up as much as about 9% in pre-market trading on Thursday.