INDIANAPOLIS (AP) — WellPoint says its first-quarter earnings fell 21 percent, but they topped Wall Street expectations. The nation’s second-largest health insurer once again raised its 2014 forecast.
The Indianapolis company says it earned $701 million, or $2.40 per share, in the three months that ended March 31. That’s down from $885.2 million, or $2.89 per share, in last year’s quarter. Earnings excluding one-time items totaled $2.30 per share.
Operating revenue climbed slightly to $17.64 billion. That excludes investment gains or losses.
Analysts expected earnings of $2.10 per share on $17.95 billion in revenue.
WellPoint Inc. now expects 2014 adjusted earnings to be greater than $8.40 per share. Analysts had forecast $8.41 per share.
The insurer runs Blue Cross Blue Shield plans in 14 states, including California and New York.