April 23, 2013 / 10:31 AM / 4 years ago

Centene profit tops estimates on new contracts

April 23 (Reuters) - Health insurer Centene Corp reported a better-than-expected quarterly profit as new contracts and expansion of existing contracts boosted revenue by 53 percent.

Net income fell marginally to $23 million, or 42 cents per share, in the first quarter from $24 million, or 45 cents per share, a year earlier.

Premium and service revenue for the quarter rose 53 percent to $2.54 billion, mainly driven by the expansion of contracts in Texas, Mississippi and Louisiana, and contract additions in Kansas, Missouri and Washington, the company said.

Analysts were expecting a profit of 37 cents per share, on revenue of $2.46 billion, according to Thomson Reuters I/B/E/S.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below