Insurer WellPoint's 3Q net income edges higher

November 7th, 2012 in Other /

(AP)—WellPoint says its third-quarter net income rose 1 percent, as the nation's second largest health insurer trimmed expenses to balance flat revenue and an enrollment decline.

The Indianapolis-based company says it earned $691.2 million, or $2.15 per share, in the three months that ended Sept. 30. That's up from $683.2 million, or $1.90 per share, in last year's third quarter.

Excluding investment gains, adjusted earnings were $2.09 per share. Analysts expected $1.83 per share.

Its revenue excluding investments was $15.13 billion. Analysts expected $15.3 billion in revenue.

says its enrollment fell more than 2 percent to about 33.5 million people compared to last year.

The company operates Blue Cross Blue Shield plans in 14 states, including California, New York and Ohio.

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"Insurer WellPoint's 3Q net income edges higher." November 7th, 2012. http://medicalxpress.com/news/2012-11-wellpoint-3q-net-income-edges.html