News Summary: WellPoint’s 2Q profit soars 24 pct
Posted at: 07/24/2013 2:36 PM
By The Associated Press
BIG GROWTH: WellPoint said Wednesday that it earned $800.1 million, or $2.64 per share, in the second quarter. That’s up about 24 percent from $643.6 million, or $1.94 per share, a year ago. Operating revenue soared 16 percent to $17.6 billion, and adjusted earnings were $2.60 per share.
THE EXPECTATIONS: Analysts expected adjusted earnings of $2.08 per share on $17.81 billion in revenue, according to FactSet.
A NEW FORECAST: WellPoint now expects full-year earnings of at least $8 per share. That’s up from its previous forecast for $7.80 per share. Analysts expect, on average, earnings of $8.03 per share.
(Copyright 2013 by The Associated Press. All Rights Reserved.)