Summary Box: WellPoint 1Q profit falls about 8 pct

The Associated Press

THE REPORT: Health insurer WellPoint Inc. reported on Wednesday that net income fell to $856.5 million, or $2.53 per share, from $926.6 million, or $2.44 per share, a year earlier. Excluding investment gains, WellPoint earned $2.34 per share. Operating revenue rose 3.4 percent to $15.15 billion.

THE EXPECTATIONS: Analysts surveyed by FactSet expected adjusted earnings of $2.27 per share on $15.41 billion in revenue.

NEW FORECAST: 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. Analysts expect earnings of $7.72 per share.