WellPoint lifts full-year forecast as profit beats

Markets Reuters

Second-quarter net income was $701.6 million, or $1.89 per share, compared with $722.4 million, or $1.71 per share, a year earlier, when the company had more shares outstanding.

Continue Reading Below

WellPoint, which has been trying to increase its presence in Medicare plans for seniors, said medical costs in the business had been significantly higher than expected this year and it would change its strategy for Medicare Advantage plans for next year.

(Reporting by Lewis Krauskopf; Editing by Lisa Von Ahn)