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Insurer WellPoint's 2Q profit soars 24 percent

July 24. 2013 6:43AM
Associated Press

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(AP) WellPoint says its second-quarter earnings jumped 24 percent as an acquisition boosted enrollment.

The nation's second-largest health insurer also raised its forecast for 2013.

The Indianapolis company says it earned $800.1 million, or $2.64 per share, in the three months that ended June 30. That's up from $643.6 million, or $1.94 per share, a year ago.

Operating revenue soared 16 percent to $17.6 billion. That excludes investment gains or losses.

Adjusted earnings were $2.60 per share. Analysts expected $2.08 per share on $17.81 billion in revenue.

WellPoint says its enrollment climbed more than 6 percent, thanks in part to its acquisition of Medicaid coverage provider Amerigroup Corp.

The insurer now expects full-year earnings of at least $8 per share, up from its previous forecast for $7.80 per share.

Associated Press

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