CVS profit rises 6% in fourth quarter

CVS Caremark's fourth-quarter earnings climbed 6 percent, as new customers and Medicare prescription plans helped its pharmacy benefits management business, and revenue from its established drugstores grew.

The Woonsocket, R.I., company said Wednesday it earned $1.13 billion, or 90 cents per share, in the three months that ended Dec. 31. That compares with earnings of $1.06 billion, or 81 cents per share, in the same period in 2011.

Adjusted earnings totaled $1.14 per share, while revenue climbed nearly 11 percent to $31.39 billion. Analysts expected, on average, earnings of $1.10 per share on $31.14 billion in revenue, according to FactSet.

- Associated Press

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