CVS Stock Climbs on Earnings Beat, Outlook
The company's specialty-pharmaceutical business is growing
CVS (CVS) posted impressive second-quarter revenue that helped CVS stock go up on Tuesday.
The pharmaceutical’s quarterly earnings report includes a profit of $1.25 billion, or $1.06 a share. CVS’ posted $1.12 billion — 91 cents a share — in profit in the year-ago period.
The company’s success can be attributed to a growing specialty-pharmaceutical business that helped its revenue rise 11% to $34.6 billion. Thomson Reuters analysts had projected $33.47 billion in revenue.
CVS increased its earnings guidance for the year from a range of $4.36 to $4.50 a share to a range to $4.43 to $4.51 a share.
CVS stock is up about 0.25% Tuesday morning.
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Article printed from InvestorPlace Media, http://investorplace.com/2014/08/cvs-stock/.
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