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WellPoint's 4Q profit jumps 38%

WellPoint says its fourth-quarter earnings jumped 38 percent compared to the final quarter of 2011, when the nation's second largest health insurer incurred a big hit from its Medicare Advantage business...

Associated Press

INDIANAPOLIS -- WellPoint says its fourth-quarter earnings jumped 38 percent compared to the final quarter of 2011, when the nation's second largest health insurer incurred a big hit from its Medicare Advantage business.

The Indianapolis company says it earned $464.2 million, or $1.51 per share, in the three months that ended Dec. 31. That's up from $335.3 million, or 96 cents per share, in the last quarter of 2011. Adjusted earnings totaled $1.03 per share.

Operating revenue inched up less than 1 percent to $15.27 billion. That excludes investment gains or losses.

Analysts expect earnings of 94 cents per share on $15.29 billion in revenue.

The Blue Cross Blue Shield company expects 2013 earnings of at least $7.60 per share, counting costs tied to the integration of recently acquired insurer Amerigroup Corp.

Analysts forecast $7.94 per share.

Copyright: (c) 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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