Summary Box: WellPoint 4Q profit sinks 39 percent

AP News
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Posted: Jan 25, 2012 2:58 PM
Summary Box: WellPoint 4Q profit sinks 39 percent

EARNINGS DROP: Insurer WellPoint Inc. said Wednesday it earned $335.3 million, or 96 cents per share, in the three months that ended Dec. 31. That's down from $548.8 million, or $1.40 per share, in the final quarter of 2010. The performance was below Wall Street expectations.

WHAT HAPPENED: WellPoint said it took a $50 million hit from a Northern California Medicare Advantage plan it has since discontinued.

2012 FORECAST: The insurer expects to earn at least $7.60 per share on about $62.1 billion in revenue. Analysts expect earnings of $7.76 per share on $63 billion in revenue, according to FactSet.