THE QUARTER: CVS Caremark Corp.'s second-quarter net income jumped 18.4 percent, as its drugstores took business from rival Walgreen Co. and an expansion of its pharmacy benefits management segment boosted revenue.
THE PARTICULARS: The Woonsocket, R.I., company earned $966 million, or 75 cents per share. Adjusted earnings of 81 cents per share beat average analyst expectations of 79 cents per share. Revenue grew 16 percent to $30.71 billion.
NEW OUTLOOK: CVS Caremark now expects 2012 adjusted earnings of between $3.32 and $3.38 per share, up from its previous forecast of $3.23 to $3.33 per share. Analysts expected $3.33 per share.
