NEW YORK (AP) — CVS Caremark said Thursday its profit slipped 1 percent in the second quarter as its pharmacy benefits management business weathered lower prices on contract renewals.
CVS Caremark Corp.'s profit declined to $816 million from $821 million a year ago. On a per-share basis its profit was unchanged at 60 cents. Excluding one-time items, the company earned 65 cents per share. Revenue rose 11 percent to $26.63 billion from $24.01 billion.
Analysts were expecting a profit of 64 cents per share and $26.76 billion in revenue, according to FactSet.
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