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.
Brittany joined TheStreet.com TV in November 2006 after completing a degree in Journalism and Media Studies at Rutgers College. Previously, Brittany interned at the local ABC affiliate in New York City WABC-TV 7 where she helped research and produce On Your Side, a popular consumer advocacy segment.

If you liked this article you might like

Here Are the Best Elite Airline Status Programs

Southwest Airlines Won't Be Clipped By the Vicious Fare War

Attorneys General Investigate Thousands of Hurricane Price-Gouging Claims

American, Spirit and United Get Downgrades as Ticket Pricing War Rages

JetBlue Offers $99 Tickets to Florida for Hurricane Irma Evacuees