Anthem Quarterly Earnings Above Expectations, But Revenue Falls Short

By Carla MozeeMarketsMarketWatch Pulse

Anthem Inc. on Wednesday posted quarterly earnings that were ahead of Wall Street's target, but sales missed the consensus mark. The health insurance heavyweight said net income for the second quarter was $855.3 million, or $3.16 a share, compared with $780.6 million, or $2.91 a share, a year ago. Adjusted earnings of $3.37 were above a FactSet consensus estimate of $3.24 a share. Operating revenue was $22.2 billion, up from $21.27 billion a year ago. Analysts had looked for $22.28 billion in operating revenue for the most recent period. Anthem said it's raising its third-quarter dividend by 5 cents a share to 70 cents a share. It also now expects fiscal year 2017 adjusted earnings to be more than $11.70 a share.

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