EARNINGS ROUNDUP / WELLPOINT
From Times Wire Reports
Shares of WellPoint Inc. climbed after it became the latest insurer to report a steep profit drop but dumped no fresh bad news on investors wary of the sector.
The nation’s largest insurer by enrollment said it earned $331.4 million, or 65 cents a share, in the fourth quarter, down 61% from $859.1 million, or $1.51, a year earlier. Revenue fell 3% to $15.07 billion.
The company, which operates Blue Cross and Blue Shield plans in 14 states, said its membership fell by 288,000 to 35 million in the fourth quarter compared to the third as employers cut jobs.
Shares of Indianapolis-based WellPoint rose $2.55, or 6%, to $45.17.
