Summary Box: CVS Caremark 4Q Profit Rises


Salon Staff
February 8, 2012 11:54PM (UTC)

THE RESULTS: CVS Caremark Corp.'s fourth-quarter net income climbed nearly 4 percent. The company earned $1.06 billion, or 81 cents per share. Adjusted earnings were 89 cents per share, in line with the average analyst forecast.

Revenue rose 15 percent to $28.32 billion, beating expectations.

Advertisement:

NEW FORECAST: The drugstore operator and pharmacy benefits manager raised its 2012 adjusted earnings guidance by 3 cents per share. It now expects $3.18 to $3.28 per share.

WHY: A contract squabble between competitor Walgreen Co. and Express Scripts Inc., a PBM, has driven more customers to CVS pharmacies.


Salon Staff

MORE FROM Salon Staff

BROWSE SALON.COM
COMPLETELY AD FREE,
FOR THE NEXT HOUR

Read Now, Pay Later - no upfront
registration for 1-Hour Access

Click Here
7-Day Access and Monthly
Subscriptions also available
No tracking or personal data collection
beyond name and email address

•••


Fearless journalism
in your inbox every day

Sign up for our free newsletter

• • •