WellPoint's 3Q profit falls 5 pct, forecast climbsOctober 23, 2013 in Technology / Business
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 share, 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 earnings 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 23, 2013 http://phys.org/news/2013-10-wellpoint-3q-profit-falls-pct.html