Health insurer WellPoint's fourth quarter net income increased 38.4 percent, jumping to $464.2 million, nearly $130 million more than previous fourth quarter net income.
Full-year 2012 performance was more modest, growing 0.3 percent over 2011 net income to $2.66 billion.
WellPoint, based in Indianapolis, posted total revenue of $15.54 billion in the fourth quarter, a slight 1.4 percent uptick from the fourth quarter of 2011. Total revenue for the entire year was also modest, growing 1.6 percent to $61.71 billion.
The second-largest U.S. health insurer also posted an operating loss of $173.3 million during the fourth quarter, mostly attributed to closing costs in its Amerigroup deal. In December, WellPoint acquired Medicaid insurer Amerigroup, based in Virginia Beach, Va., bringing its medical enrollment to more than 36 million members.
WellPoint expects 2013 net income to be at least $7.60 per share after realizing costs in integrating Amerigroup.
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Full-year 2012 performance was more modest, growing 0.3 percent over 2011 net income to $2.66 billion.
WellPoint, based in Indianapolis, posted total revenue of $15.54 billion in the fourth quarter, a slight 1.4 percent uptick from the fourth quarter of 2011. Total revenue for the entire year was also modest, growing 1.6 percent to $61.71 billion.
The second-largest U.S. health insurer also posted an operating loss of $173.3 million during the fourth quarter, mostly attributed to closing costs in its Amerigroup deal. In December, WellPoint acquired Medicaid insurer Amerigroup, based in Virginia Beach, Va., bringing its medical enrollment to more than 36 million members.
WellPoint expects 2013 net income to be at least $7.60 per share after realizing costs in integrating Amerigroup.
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