CVS Health (CVS) Revenue — Quarter Ended Mar 31, 2024
Revenue for the quarter rose compared to the same period last year but declined from the immediately preceding quarter. The sequential decrease reflects a moderation from the prior quarter's higher level.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue for the quarter rose compared to the same period last year but declined from the immediately preceding quarter. The sequential decrease reflects a moderation from the prior quarter's higher level.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$88.4B
Revenue reported for this quarter.
Quarter-over-quarter
-5.7%
Change from the immediately preceding quarter.
Year-over-year
+3.7%
Change from the comparable year-ago quarter.
Trailing four quarters
$360.9B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2023 | $88.9B | +10.3% |
| Sep 30, 2023 | $89.8B | +10.6% |
| Dec 31, 2023 | $93.8B | +11.9% |
| Mar 31, 2024 | $88.4B | +3.7% |
Revenue performance
The reported total revenue grew from the year-ago quarter, marking continued year-over-year expansion. However, the quarter-over-quarter comparison shows a decline, indicating a lower revenue level than the previous quarter.
Quarterly comparison
Compared to the immediately preceding quarter, revenue contracted. In contrast, when measured against the same quarter one year earlier, revenue was higher.
What to watch
The filing notes elevated utilization trends and a lack of claims visibility due to a cyberattack, though commentary does not quantify their direct impact on reported revenue.