UPDATE: Centene Q4 Profit Down 70%

Centene

reported a 70% decline in its fourth-quarter profit. Its quarterly net profit dropped to $9.1 million, or $0.17 per share, from $30.1 million, or $0.57 per share, in the year-ago period. Its total revenue surged 59% to $2.4 billion. Centene's adjusted earnings came in at $0.47 per shares, beating analysts' estimates of $0.32 per share. Centene shares closed at $42.54 yesterday.