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[video] Quick Take: Pharmacy Revenue Helps Boost CVS Caremark's Earnings More Than 12%

NEW YORK (TheStreet) -- Shares of CVS Caremark (CVS - Get Report) are moving higher, after beating fourth-quarter earnings estimates. TheStreet's Brittany Umar takes a deeper look at the results. 

The company grew fourth-quarter earnings 12% year over year. Revenue grew 4.6% to $32.83 billion, Umar said. 

General merchandise sales sank 2% on lower store traffic, but CVS saw a big boost in pharmaceutical sales, which were up 7% as subscription fills climbed 3.8%, Umar added.  

Some investors have become worried about the company's future prospects after it announced that it would stop selling tobacco products by October of this year. 

However, the company reaffirmed 2014 guidance, easing investors' worries for now. Shares were up nearly 3% Tuesday trading.

Must Read: [video] Quick Take: Sprint Still Losing Money but Gaining Smartphone Subscribers

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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