Anthem Updates Earnings Outlook - Quick Facts

(RTTNews) - Anthem, Inc. (ANTM) announced, for fiscal 2017, adjusted net income is now expected to be in the range of $11.90 - $12.00 per share. Operating revenue is expected to be in the range of $88.5 - $89.5 billion. Previously, the company projected adjusted net income to be greater than $11.70.

Third-quarter adjusted net income was $2.65 per share compared to $2.45 per share in the prior year quarter. Operating revenue was $22.1 billion, an increase of $1.0 billion, or 4.6 percent, versus the $21.1 billion in the prior year quarter. The company said the growth in revenue reflected premium rate increases to cover overall cost trends across its business. Additionally, the increase was driven by higher enrollment in the Medicare and Medicaid businesses as well as Local Group insured and self-funded businesses.