UPDATE: CVS Caremark Posts Higher Q1 Profit

CVS Caremark CVS reported a rise in its first-quarter profit. CVS Caremark's quarterly profit surged to 956 million, or $0.77 per share, versus $776 million, or $0.59 per share, in the year-ago period. Its adjusted earnings came in at $0.83 per share. Its revenue declined to $30.76 billion from $30.80 billion, while retail pharmacy same-store sales fell 2.3%. However, analysts were expecting earnings of $0.71 per share on revenue of $30.37 billion. CVS Caremark expects Q2 adjusted earnings of $0.94 to $0.97 per share. CVS Caremark shares closed at $58.18 yesterday.