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News Summary: WellPoint's 3Q profit falls 5 pct

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The Associated Press | October 23, 2013 01:26 PM EST | AP


THE QUARTER: Health insurer WellPoint Inc. said Wednesday it earned $656.2 million, or $2.16 per share, in the quarter that ended Sept. 30. That compares to $691.2 million, or $2.15 per share, last year, when the company had more shares outstanding. Earnings excluding one-time items totaled $2.10 per share.

Revenue excluding investment gains or losses soared 17 percent to $17.73 billion.

EXPECTATIONS: Analysts expected, on average, earnings of $1.81 per share on $17.66 billion in revenue.

NEW FORECAST: The insurer now expects 2013 adjusted earnings of at least $8.40 per share, up from its previous forecast for at least $8 per share.