UPDATE: CVS Caremark Posts 25% Rise In Q3 Profit, Lifts Outlook

CVS Caremark

reported a 25% rise in its third-quarter earnings and lifted its earnings forecast for the year. CVS Caremark now expects full-year earnings of $3.94 to $3.97 per share, versus its earlier forecast of $3.90 to $3.96 per share. CVS Caremark's quarterly profit surged to $1.25 billion, or $1.02 per share, versus a year-ago profit of $1.01 billion, or $0.79 per share. Excluding one-time items, its adjusted earnings came in at $1.05 per share. The company had earlier expected earnings of $1 to $1.03 per share. Its revenue rose 5.8% to $32 billion, versus analysts' estimates of $31.53 billion. CVS Caremark shares gained 2.05% to $63.25 in pre-market trading.