This post was originally published on this site
https://i-invdn-com.investing.com/trkd-images/LYNXMPEI6J0GN_L.jpg
Larger rival UnitedHealth Group Inc (NYSE:UNH) had also raised its full-year profit outlook last week as a slow recovery in non-urgent medical procedures and lower COVID-care costs help it rein in medical expenses.
Net profit for Elevance, which was previously known as Anthem, fell to $1.65 billion, or $6.79 per share, in the three months ended June 30, from $1.79 billion, or $7.25 per share, a year earlier.
Excluding items, the company reported earnings of $8.04 per share, above analysts’ estimates of $7.74, according to IBES estimates from Refinitiv.
It now expects adjusted earnings to be greater than $28.70 per share for the year, up from its prior forecast of more than $28.40 per share.
