Pharmacy Revenue Helps Boost CVS Caremark's Earnings More Than 12%

CVS Caremark's results were boosted by pharmacy revenue at its established drugstores, which grew 6.8% during the quarter.

Author:: Brittany Umar
Publish date:: Feb 11, 2014 11:45 AM EST

Shares of CVS Caremark are climbing after the drugstore and pharmacy chain reported fourth-quarter earnings that climbed more than 12%. The company said results were boosted by pharmacy revenue at its established drugstores, which grew 6.8% during the quarter. CVS managed to fill 3.8% more prescriptions and sell more generic drugs despite processing fewer network claims and seeing a decline in store traffic. Overall, revenue in the period rose 4.6% to about $32.8 billion, beating analyst forecasts of about $32.6 billion, according to Thomson Reuters.

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.