October 22, 2019 / 10:13 AM / 2 months ago

Health insurer Centene revenue rises 17% on higher Medicaid sales

Oct 22 (Reuters) - Centene Corp reported a 17% jump in third-quarter revenue on Tuesday, helped by higher sales in its Medicaid business which sells health plans for low-income Americans.

Total revenue of the company, which is buying smaller rival WellCare Health Plans Inc for $15.27 billion, grew to $18.98 billion from $16.18 billion last year.

Net earnings attributable to Centene rose to $95 million, or 23 cents per share, in the quarter ended Sept. 30, from $19 million, or 5 cents per share, a year earlier, when the company took a charge from an industry-wide fee. (Reporting by Saumya Sibi Joseph and Tamara Mathias in Bengaluru; Editing by Shinjini Ganguli)

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