UPDATE: WellPoint Q2 Profit Increases 24%

WellPoint

reported a 24% increase in its second-quarter profit. WellPoint's quarterly profit surged to $800.1 million, or $2.64 per share, from $643.6 million, or $1.94 per share, in the year-earlier quarter. Its adjusted earnings gained to $2.60 from $2.04 per share. Its total revenue rose 16% to $17.8 billion from $15.4 billion. However, analysts were projecting earnings of $2.07 per share on revenue of $17.8 billion. WellPoint's board declared a dividend of $0.375 per share for the third quarter. WellPoint shares closed at $87.51 yesterday.