THE RESULTS: WellPoint, the nation’s second-largest health insurer, saw its second-quarter earnings decline 8.3 percent and it cut its 2012 earnings forecast after seeing enrollment slip and medical costs climb.
THE PARTICULARS: The Indianapolis company earned $643.6 million, or $1.94 per share on $15.17 billion in operating revenue. It now expects 2012 adjusted earnings to range between $7.30 and $7.40 per share. That’s down from a previous forecast of $7.57 per share.
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THE REACTION: Both the quarterly results and 2012 forecast missed analyst expectations. The company’s stock price took its biggest one-day plunge in more than three years.
