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WellPoint cuts forecast as quarterly profit misses views
July 25, 2012 / 10:19 AM / 5 years ago

WellPoint cuts forecast as quarterly profit misses views

July 25 (Reuters) - Health insurer WellPoint Inc posted a lower-than-expected quarterly profit on Wednesday and cut its full-year earnings forecast, citing lower enrollment and higher medical cost trends.

Second-quarter net income fell to $643.6 million, or $1.94 per share, from $701.6 million, or $1.89 per share, a year earlier, when the company had more outstanding stock.

Excluding items, WellPoint reported earnings of $2.04 per share, 4 cents below the analysts’ average estimate, according to Thomson Reuters I/B/E/S. (Reporting by Lewis Krauskopf in New York; Editing by Lisa Von Ahn)

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