CVS Stock Climbs on Earnings Beat, Outlook

by Karl Utermohlen | August 5, 2014 11:43 am

CVS Stock Climbs on Earnings Beat, Outlook

CVS (CVS[1]) posted impressive second-quarter revenue[2] that helped CVS stock go up on Tuesday.

CVSLogo CVS Stock Climbs on Earnings Beat, Outlook[3]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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Endnotes:
  1. CVS: /stock-quotes/CVS-stock-quote/
  2. second-quarter revenue: http://online.wsj.com/articles/cvs-boosts-outlook-as-profit-rises-11-1407238482?mod=yahoo_hs
  3. [Image]: http://investorplace.com/wp-content/uploads/2010/10/CVSLogo.jpg
  4. GE to Invest $2 Billion in Africa by 2018: http://investorplace.com/2014/08/ge-africa/#.U-D50qiwXRE

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