By Dave Sebastian
Anthem Inc. (ANTM) posted higher third-quarter revenue, boosting profit.
The health insurer reported net income of $1.18 billion, or $4.55 a share, compared with $960 million, or $3.62 a share, in the comparable quarter last year. Analysts polled by FactSet were expecting $4.57 a share.
On an adjusted basis, earnings were $4.87 a share, above the $4.82 a share analysts had expected.
Revenue rose to $26.67 billion from $23.25 million. Analysts expected $25.9 billion.
The benefit-expense ratio was 87.2% in the quarter, compared with 84.8% in the prior year.
Total medical membership rose 2.7% to 40.98 million.
Write to Dave Sebastian at firstname.lastname@example.org
Corrections & Amplifications
This article was corrected at 06:45 a.m. ET because the original incorrectly stated that Anthem fell short of Wall Street estimates and that its adjusted earnings were below analysts' expectations. Anthem's third-quarter profit didn't fall short of Wall Street estimates.