INDIANAPOLIS (AP) — INDIANAPOLIS (AP) — Elevance Health Inc. (ELV) on Wednesday reported first-quarter profit of $1.76 billion.
On a per-share basis, the Indianapolis-based company said it had profit of $8. Earnings, adjusted for one-time gains and costs, were $12.58 per share.
The results surpassed Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of $10.68 per share.
The health insurer posted revenue of $50.18 billion in the period. Its adjusted revenue was $49.49 billion, also beating Street forecasts. Sixteen analysts surveyed by Zacks expected $47.74 billion.
Elevance Health expects full-year earnings to be $26.75 per share.
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