UPDATE: WellPoint Posts Rise In Q3 Profit, Lowers Full-Year Revenue Forecast
WellPoint (NYSE: WLP) reported a 1.2% rise in its third-quarter earnings and cut its revenue forecast for the full year.
WellPoint cut its full year operating revenue forecast to $60.7 billion from $61 billion.
WellPoint's quarterly profit climbed to $691.2 million, or $2.15 per share, from $683.2 million, or $1.90 per share, in the year-ago period. Excluding items, its adjusted earnings came in at $2.09 per share.
Its revenue fell 0.1% to $15.13 billion. However, analysts were expecting earnings of $1.84 per share on revenue of $15.31 billion.
WellPoint's operating margin rose to 6.6% from 6.4%.
WellPoint shares closed at $61.20 yesterday.
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