CVS Caremark's fourth-quarter earnings climbed 6 percent, as new customers and Medicare prescription drug plans helped its pharmacy benefits management business, and revenue from the chain's established drugstores grew.
The Woonsocket, R.I., company said Wednesday 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, while revenue climbed nearly 11 percent to $31.39 billion.
Analysts expected, on average, earnings of $1.10 per share on $31.14 billion in revenue, according to FactSet.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
