CVS earned $1.12 billion, or 91 cents a share, during the quarter, up from $966 million, or 75 cents a share, in the same period last year.
Adjusted earnings rose to 97 cents a share from 81 cents, beating analysts' expectations for earnings of 96 cents, according to Thomson Reuters.
Revenue climbed 1.7% to $31.25 billion.
"As expected, new generic drug introductions continued to be a significant growth driver across the enterprise, resulting in healthy margin expansion and earnings growth," President and CEO Larry Merlo said in a statement.The company also narrowed its 2013 earnings per share forecast. It now expects adjusted earnings of $3.90 to $3.96 a share for the full year. Analysts have expected a full-year profit of $3.98. CVS narrowed its guidance in accordance with the timing of share repurchases.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move. -- Written by Brittany Umar.