Health Net 4Q profit plummets as costs pile up
By TOM MURPHY, AP Business Writer | |
Associated Press |
The
Even so,
Total revenue climbed 4.4 percent to
Analysts surveyed by FactSet expected, on average, earnings of
Goldman Sachs analyst Matthew Borsch said in a research note the insurer turned in a "mostly solid" performance in the fourth quarter, considering that it reported weak earnings in the first half of the year.
"We are encouraged that (
The insurer said its performance in the quarter was hurt in part by a rise in health care use from members of some large, employer-sponsored group insurance accounts that ended
The company treated its
The 2012 quarter also included about
For the full year,
The insurer expects earnings ranging from
The company expects 2013 revenue to fall between
Analysts forecast, on average, earnings of
The company's stock climbed 2.4 percent, or
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