INDIANAPOLIS (AP) -- WellPoint says its first-quarter net income fell nearly 8 percent as enrollment slipped and expenses rose, but the health insurer raised its earnings forecast for 2012.
The Indianapolis company says it earned $856.5 million, or $2.53 per share, in the three months that ended March 31. That's down from $926.6 million, or $2.44 per share, in last year's first quarter.
Excluding investment gains, WellPoint earned $2.34 per share in this year's first quarter.
Operating revenue, which also excludes those gains, climbed 3.4 percent to $15.15 billion.
Analysts expected earnings of $2.27 per share on $15.41 billion in revenue.
WellPoint now expects 2012 adjusted earnings of at least $7.65 per share, up from a previous forecast for at least $7.60 per share.