Business

CVS Caremark 4Q profit jumps more than 12 pct

Posted February 11, 2014 12:01 am

By The 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.

Article Comments

Article Categories
Business

Article Comments

Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.