News Summary: CVS Caremark 4Q profit rises 6 pct

CVS Caremark's 4th-qtr profit up 6 pct as drugstore sales, pharmacy benefits unit both grow

Associated Press

THE FOURTH QUARTER: CVS Caremark Corp.'s net income rose 6 percent to $1.13 billion, or 90 cents per share. The drugstore chain and pharmacy benefits manager's adjusted profit totaled $1.14 per share, while revenue grew nearly 11 percent to $31.4 billion.

BETTER THAN EXPECTED: Analysts expected, on average, earnings of $1.10 per share on $31.14 billion in revenue, according to FactSet.

NEW FORECAST: The company now expects 2013 adjusted earnings of $3.86 to $4 per share, a two-cent increase from its previous forecast. The new outlook is still in line with analysts' prediction of $3.92 per share, on average.

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