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.-- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV