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WellPoint Q3 Earnings Comfortably Beats Estimate

Health Benefit Company, WellPoint Inc. (NYSE: WLP) reported on Wednesday that fiscal third quarter profit slid 5.1% as overall expenses outpaced revenue growth, offsetting gains in membership and lower medical costs. However, both core earnings and revenue topped analysts’ expectation. WellPoint reiterated its full-year revenue outlook and lifted its earnings projection by 40 cents. The Company now anticipates earnings of $8.40 a share. Stripping out onetime items such as acquisition related cost and gains arising from investments, the adjusted earnings came in at $2.10 a share. Total operating revenue jumped 17% to $17.73 billion. Analysts’ consensus estimate was for earnings of $1.82 a share on revenue of $17.62 billion.

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