[video] Quick Take: Pharmacy Revenue Helps Boost CVS Caremark's Earnings More Than 12%
NEW YORK (TheStreet) -- Shares of CVS Caremark
The company grew fourth-quarter earnings 12% year over year. Revenue grew 4.6% to $32.83 billion, Umar said.
General merchandise sales sank 2% on lower store traffic, but CVS saw a big boost in pharmaceutical sales, which were up 7% as subscription fills climbed 3.8%, Umar added.
Some investors have become worried about the company's future prospects after it announced that it would stop selling tobacco products by October of this year.
However, the company reaffirmed 2014 guidance, easing investors' worries for now. Shares were up nearly 3% Tuesday trading.
-- Written by Bret Kenwell in Petoskey, Mich.