CVS Caremark’s 4Q Profit Rises 6 Percent
February 6th, 2013 12:29 pm Associated PressWOONSOCKET, R.I. (AP) — CVS Caremark says its fourth-quarter net income climbed 6 percent, and the drugstore operator and pharmacy benefits manager raised its earnings forecast for 2013.
The Woonsocket, R.I., company says it earned $1.13 billion, or 90 cents per share, in the three months that ended Dec. 31. That compares with earnings of $1.06 billion, or 81 cents per share, in the same period in 2011.
Adjusted earnings totaled $1.14 per share, not counting a loss from the early extinguishment of some debt.
Revenue climbed nearly 11 percent to $31.39 billion.
Analysts expect earnings of $1.10 per share on $31.14 billion in revenue.
The company now predicts 2013 adjusted earnings of $3.86 to $4 per share, a two-cent increase from its previous forecast. Analysts expect $3.92 per share, on average.

