WellPoint Sees Solid Membership Growth
The nation's largest health insurer in terms of membership reported earnings before the market opened this morning. For the fifth quarter in a row, WellPoint (WLP) posted earnings that exceed the analysts' expectations. The company had revenue of $14.9 billion and EPS of $1.89. After adjusting for the $0.06 a share of investment gains, total profits were $1.83 a share. The consensus expectation was for the company to earn $1.80 a share on revenue of $14.7 billion, so the company beat the estimates on both the top and bottom line.
The company saw solid membership growth in the quarter. Total membership to the company's health care plans rose by 694,000, to reach 34.2 million. Most of the growth was from national, which grew by 528,000. Senior memberships rose by 101,000, and state programs saw the total of enrolled members grow by 88,000. Federal employee membership also rose slightly in the quarter, while individual plan memberships declined by 83,000 members in the quarter....252 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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