UPDATE: WellPoint Q3 Profit Declines 5.1%
WellPoint (NYSE: WLP) reported a 5.1% drop in its third-quarter earnings.
WellPoint now projects full-year adjusted earnings of at least $8.40 per share.
WellPoint's quarterly profit fell to $656.2 million, from $691.2 million, in the year-ago period. On a per-share basis, its earnings climbed to $2.16 per share versus $2.15. Excluding one-time items, its adjusted earnings came in at $2.10 per share.
Its total operating revenue climbed 17% to $17.73 billion. However, analysts were expecting earnings of $1.82 per share on revenue of $17.62 billion.
WellPoint shares closed at $88.43 yesterday.
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