All CATEGORIES
☰ Menu

CVS sees fourth-quarter profits rise 12 percent

Associated Press

CVS Caremark said 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 with Northeast Ohio stores said 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.



MORE IN BUSINESS

 
Featured Business
Prev Next
Prev Next