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updated: 2/11/2014 7:28 AM

CVS Caremark 4Q profit jumps more than 12 pct

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By Associated Press

CVS Caremark says its fourth-quarter earnings climbed more than 12 percent, as improved sales from established locations helped the drugstore operator and pharmacy benefits manager

The Woonsocket, R.I., company says it earned $1.27 billion, or $1.05 per share, in the three months that ended Dec. 31. That compares with earnings of $1.13 billion, or 90 cents per share, in the final quarter of 2012. Revenue rose nearly 5 percent to $32.83 billion.

Adjusted earnings totaled $1.12 per share.

Analysts forecast earnings of $1.11 per share on about $32.67 billion in revenue.

CVS Caremark Corp. runs the nation's second-largest chain of drugstores and gained national attention last week after it announced that it would phase out sales of tobacco products at its more than 7,600 locations.

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