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WellPoint profit beats estimates on lower medical spending

Published
  • January 23 2013, 9:47am EST

WellPoint Inc., the second-biggest U.S. health insurer, reported fourth-quarter profit that beat analyst estimates on lower-than-expected medical costs and an enrollment boost from its Amerigroup Corp. acquisition.

Earnings excluding a tax settlement and investment gains were $1.03 a share, nine cents higher than the average of 16 analyst estimates compiled by Bloomberg. Medical-plan membership increased to 36.1 million with last year’s $4.9 billion Amerigroup purchase, Indianapolis-based WellPoint said in a statement Wednesday.

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