CVS Profit Tops Estimates After Gaining Walgreen Customers
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CVS Caremark Corp., the largest provider of prescription drugs in the U.S., reported second-quarter profit that exceeded analysts’ estimates, helped by customers it gained from Walgreen Co.
Net income rose 18 percent to $966 million, or 75 cents a share, from $816 million, or 60 cents, a year earlier, the Woonsocket, Rhode Island-based company said today in a statement. Excluding certain items, profit was 81 cents a share, compared with the 80-cent average estimate of analysts, according to data compiled by Bloomberg.