UPDATE: Centene Posts Upbeat Q1 Profit

Centene

reported an upbeat first-quarter profit. Centene's quarterly net income declined to $23 million, or $0.42 per share, versus $24 million, or $0.45 per share, in the year-ago period. Its premium and service revenue jumped 53% to $2.54 billion. However, analysts were projecting a profit of $0.37 per share on revenue of $2.46 billion. Centene shares closed at $45.35 yesterday.