July 23, 2019 / 10:11 AM / 3 months ago

Centene Corp posts 65% rise in second-quarter profit

July 23 (Reuters) - Centene Corp, which is buying smaller rival WellCare Health Plans Inc, on Tuesday reported a 65% rise in quarterly profit, helped by higher sales of its Medicaid health plans for low-income people.

Net earnings attributable to Centene rose to $495 million, or $1.18 per share, in the second quarter ended June 30, from $300 million, or 75 cents per share, a year earlier.

Total revenue rose to $18.36 billion from $14.18 billion. (Reporting by Manojna Maddipatla in Bengaluru; Editing by James Emmanuel)

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