Buoyed by results from its pharmacy services segment, CVS Caremark Corporation said second quarter sales rose 10.7% to $34.6 billion. Pharmacy sales rose 16.2% to $21.8 billion. Revenues in the retail pharmacy segment increased 4.5% to $16.9 billion. Same store sales increased 3.3%, with pharmacy same store sales up 5.0% and front store same store sales down 0.4%. Net income for the three months ended June 30, 2014, increased 10.9% to $1.2 billion.
"I'm extremely pleased with our strong performance this quarter. With adjusted EPS increasing 16.5%, we came in two cents above the high end of our expectations," said President and Chief Executive Officer Larry Merlo.
For the six months, sales rose more than 9% to $67.2 billion. Net income rose more than 14% to over $2.3 billion.