CVS Caremark says 4Q Profit Grew 17%

By  | 

NEW YORK – CVS Caremark Corp. says its profit rose 17 percent in the fourth quarter because of improved results for its drugstores.

The Woonsocket, R.I.-drugstore chain and pharmacy benefits manager said Thursday it earned $949.3 million, or 65 cents per share, up from $811.2 million, or 55 cents per share, a year ago. Excluding items, profit grew to 70 cents per share from 58 cents per share. Revenue rose 10 percent, to $24.14 billion from $21.94 billion.

Thomson Reuters says analysts expected 69 cents per share and $23.29 billion in revenue.

CVS says drugstore revenue grew 19 percent to $13.83 billion. Pharmacy services revenue edged up 2 percent to $11.78 billion.

CVS had 6,923 retail pharmacies at the end of the quarter after buying 529 Longs Drugs stores.

Comments are posted from viewers like you and do not always reflect the views of this station. powered by Disqus