Health care provider
said earnings and revenue rose sharply in the latest quarter, driven by an acquisition and customer growth throughout its geographies.
The company earned $171.9 million, or $1.19 a share, on revenue of $3.9 billion, up from $87.7 million, or 85 cents per share, on nearly $2.59 billion in revenue for the year-earlier period. On an operating basis that excludes investment gains and other items, the company earned $160.9 million, or $1.12 a share, compared with $102.7 million, or 99 cents a share, a year ago. On that basis, analysts were expecting the company to earn $1.09 a share, according to First Call.
Enrollment in the company's medical plans rose 40% to 11.1 million, reflecting the company's acquisition of Trigon Healthcare over the summer, but even excluding that enrollment was about 8%. Operating revenue rose 16%, excluding the acquisition.
Anthem expects 2003 earnings to be $4.75 to $4.85 a share, up 10 cents from its previous estimate and slightly above the First Call consensus of $4.73.