April 30 WellPoint Inc, the
second-largest U.S. health insurer, said on Wednesday that
first-quarter profit fell, largely because of investment
spending related to healthcare reform and the higher
administrative costs of adding new commercial customers.
WellPoint, which runs Anthem and Empire Blue Cross Blue
Shield plans, reported net profit of $701 million, or $2.40 per
share, down from $885 million, or $2.89 per share, a year
Excluding net gains of 10 cents per share, earnings were
$2.30 per share.
Analysts on average had expected earnings of $2.12 per
share, according to Thomson Reuters I/B/E/S. It was not
immediately known if the figures were comparable.
(Reporting by Caroline Humer; Editing by Lisa Von Ahn)