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Pharmaceutical Unit Drives 4Q Earnings at CVS

 

After announcing plans last week to discontinue sale of tobacco, the drug store chain CVS Caremark Corporation (NYSE:CVS) reported fourth quarter profits and revenues that were above consensus estimates. The company reported earnings of $1.12 per share on revenues of $32.83 billion. 

Analysts were expecting earnings of $1.11 per share on revenues of $32.64 billion. Profits for the quarter were driven largely by the drug stores pharmaceutical unit, which saw a rise of 5.2% with revenues of $19.6 billion. CVS is increasingly moving towards becoming a full healthcare provider. 

(Image source: theoptionspecialist.com)