UPDATE: CVS Caremark Posts Higher Q4 Profit

CVS Caremark

reported a gain in its fourth-quarter profit. CVS Caremark's quarterly profit surged to $1.27 billion, or $1.05 per share, versus a year-ago profit of $1.13 billion, or $0.90 per share. Its adjusted earnings came in at $1.12 per share. Its revenue surged to $32.83 billion versus $31.40 billion. However, analysts were projecting earnings of $1.11 per share on revenue of $32.64 billion. CVS Caremark projects current-quarter earnings of $1.03 to $1.06 per share and full-year earnings of $4.36 to $4.50 per share. CVS Caremark shares closed at $66.94 yesterday.