August 4, 2017 / 10:11 AM / 2 months ago

Health insurer WellCare's revenue rises 19.8 pct

Aug 4 (Reuters) - U.S. health insurer WellCare Health Plans Inc reported a 19.8 percent increase in quarterly revenue, driven by higher enrolments in its Medicare and Medicaid businesses.

WellCare, which focuses on government-backed Medicare and Medicaid plans, said revenue rose to $4.31 billion in the second quarter ended June 30, from $3.6 billion a year earlier.

Net income fell to $74.1 million, or $1.65 per share, from $90.8 million, or $2.04 per share. (Reporting by Manas Mishra and Akankshita Mukhopadhyay in Bengaluru; Editing by Sai Sachin Ravikumar)

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