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WellPoint raises forecast as profit beats

26/10/2011 - 12:21

(Reuters) - WellPoint Inc posted a higher-than-expected third-quarter profit as the health insurer added members and saved on administrative expenses, and it raised its full-year profit forecast.

Quarterly net income fell to $683.2 million from $739.1 million a year earlier. Earnings per share rose to $1.90 from $1.84 a year ago, when the company had more outstanding stock.

Excluding investment gains, earnings of $1.77 per share were 9 cents ahead of the analysts' average estimate, according to Thomson Reuters I/B/E/S.

(Reporting by Lewis Krauskopf in New York; Editing by Lisa Von Ahn)