WellPoint's 2Q Earnings Slump 8.3%

Profit at Indianapolis-based health insurer WellPoint dropped 8.3 percent in the second quarter ended June 30, 2012, from $701.6 million in 2011 to $643.6 million.

WellPoint's net income has been down in both quarters so far this year, in addition to several quarters last year. Angela Braly, WellPoint's chair, president and CEO, attributed the sluggish growth to lower enrollment figures and slightly higher medical costs, and WellPoint's 2012 outlook has consequently been lowered.

Total revenue increased 2 percent in the second quarter, from $14.9 billion to $15.2 billion. For the six months ended June 30, WellPoint's revenue equaled $30.3 billion — a 2.7 percent increase from $29.5 billion of revenue in the first six months of 2011.

WellPoint's profit in the first six months of 2012 now stands at $1.5 billion, which is down 7.9 percent from $1.62 billion of profit last year.

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