Insurer WellPoint's 3Q net income edges higher
(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.
WellPoint 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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