Anthem reports better-than-expected quarterly profit

Health insurer Anthem reported net income of $865.2 million, or $3.09 per share, for the first quarter of fiscal 2015, up from $701 million, or $2.40 per share, a year earlier.

The health insurer's earnings adjusted for one-time items totaled $3.14 per share, which was more than the average analyst estimate of $2.67 per share, according to Reuters.

Anthem's operating revenue was up about 7 percent in the first quarter, growing to $18.85 billion. The health insurer experienced a 25 percent jump in Medicaid enrollment in the first quarter of fiscal 2015, which was a major force behind Anthem's strong revenue growth.

Based on its quarter-one financials, Anthem expects full year adjusted earnings of greater than $9.90 per share, up from its previous forecast of greater than $9.70 per share.

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