EARNINGS-Health insurer Anthem quarterly profit slumps 81% on higher costs

Credit: REUTERS/BRENDAN MCDERMID

Oct 28 (Reuters) - U.S. health insurer Anthem Inc ANTM.N reported an 81.2% fall in quarterly profit on Wednesday, due to higher costs and as pandemic-triggered layoffs across sectors led to lower demand for its high-margin health plans from employers.

Net income fell to $222 million, or $0.87 per share, in the third quarter, from $1.18 billion, or $4.55 per share, a year earlier.

(Reporting by Manojna Maddipatla in Bengaluru; Editing by Shinjini Ganguli)

((manojna.kalyani@thomsonreuters.com; +91 8061822700;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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