CVS Caremark Posts Earnings Beat

CVS Caremark posted record fourth-quarter earnings and said it sees further advantages in the marketplace.
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WOONSOCKET, R.I. (

TheStreet

) --

CVS Caremark

(CVS) - Get Report

posted record fourth-quarter earnings and forecasts further advantages in the marketplace.

CVS posted net income available to common shareholders of $1.05 million, or 74 cents a share, compared with $949 million, or 65 cents a share, in the fourth quarter of last year. The company reported adjusted earnings of 79 cents a share compared with 70 cents a share in the same period last year, beating the Wall Street consensus estimate of 78 cents.

CVS reported revenue of $25.8 billion, up from $24.1 billion a year ago. Analysts polled by Thomson Reuters estimated reveneu of $26.22.

Revenue rose 14.5% to $13.49 billion at its pharmacy benefits management operation.

CVS said during 2009 it continued to make investments and forge strategic alliances that will enable it to capitalize on the evolving health care landscape and further differentiate its offerings in the marketplace.

-- Reported by Andrea Tse in New York

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