WellPoint's 3Q profit falls 5 pct, forecast climbs

October 23rd, 2013 in Technology / Business
This July 17, 2012, file photo, shows the corporate headquarters of WellPoint in Indianapolis. WellPoint Inc.'s third-quarter earnings fell 5 percent, but the nation's second-largest health insurer's results topped Wall Street expectations. Shares of the Indianapolis company jumped in premarket trading Wednesday Oct. 23, 2013 about three hours before the market opening. (AP Photo/Michael Conroy, File)


This July 17, 2012, file photo, shows the corporate headquarters of WellPoint in Indianapolis. WellPoint Inc.'s third-quarter earnings fell 5 percent, but the nation's second-largest health insurer's results topped Wall Street expectations. Shares of the Indianapolis company jumped in premarket trading Wednesday Oct. 23, 2013 about three hours before the market opening. (AP Photo/Michael Conroy, File)

WellPoint says its third-quarter earnings fell 5 percent, but the nation's second-largest health insurer raised its forecast for 2013, citing in part gains it expects from the health care overhaul.

The Indianapolis company says it earned $656.2 million, or $2.16 per , in the quarter. That compares to $691.2 million, or $2.15 per share, last year, when the company had more shares outstanding. Earnings excluding one-time items totaled $2.10 per share.

Operating revenue soared 17 percent to $17.73 billion. That excludes investment gains or losses.

Analysts forecast earnings of $1.81 per share on $17.66 billion in revenue.

The Blue Cross Blue Shield insurer now expects full-year adjusted of at least $8.40 per share, up from a previous forecast for at least $8.

WellPoint shares are rising in premarket trading.

© 2013 The Associated Press. All rights reserved.

"WellPoint's 3Q profit falls 5 pct, forecast climbs." October 23rd, 2013. http://phys.org/news/2013-10-wellpoint-3q-profit-falls-pct.html