Health insurer WellPoint's net income in the third quarter of fiscal year 2012 increased 1.2 percent from a year ago, from $683.2 million in 2011 to $691.2 million this year.
This was WellPoint's first earnings report since former President and CEO Angela Braly stepped down in August. WellPoint investors criticized her leadership as the health insurer was reporting quarterly losses and fell behind UnitedHealth Group as the country's biggest health insurer. John Cannon is the current interim president and CEO.
Total revenue in the third quarter fell 0.3 percent to $15.35 billion compared with $15.4 billion in the third quarter of 2011. WellPoint's membership also fell 862,000 members in the third quarter, bringing its total to 33.5 million members.
For the first nine months of 2012, WellPoint's profit dropped 5.2 percent, from $2.31 billion last year to $2.19 billion this year. Total revenue remained steady in the first nine months, increasing 1.7 percent to $46.18 billion.
This was WellPoint's first earnings report since former President and CEO Angela Braly stepped down in August. WellPoint investors criticized her leadership as the health insurer was reporting quarterly losses and fell behind UnitedHealth Group as the country's biggest health insurer. John Cannon is the current interim president and CEO.
Total revenue in the third quarter fell 0.3 percent to $15.35 billion compared with $15.4 billion in the third quarter of 2011. WellPoint's membership also fell 862,000 members in the third quarter, bringing its total to 33.5 million members.
For the first nine months of 2012, WellPoint's profit dropped 5.2 percent, from $2.31 billion last year to $2.19 billion this year. Total revenue remained steady in the first nine months, increasing 1.7 percent to $46.18 billion.
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