Centene records 49% jump in net earnings as ACA exchange business inflates Q2 revenue

St. Louis-based Centene Corp. reported $254 million in net earnings in the second quarter of fiscal year 2017, a 49.4 percent increase from net earnings of $170 million in the same period last year.

Centene saw revenues of $12 billion in the second quarter ended June 30, compared to $10.9 billion during the same quarter in 2016. Centene attributed the 10 percent year-over-year revenue jump to growth in its ACA exchange business. 

Centene's Chairman and CEO Michael Neidorff said the payer's "marketplace business continues to be particularly strong, confirming our business as usual approach."

The payer also saw operating expenses rise in the second quarter of 2017 to $11.5 billion, a year-over-year increase from $10.5 billion reported in the same period in 2016.

Year-to-date, Centene reported $393 million in net earnings. That compared to $154 million in the first six months of 2016. 

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