US Markets

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

Credit: REUTERS/BRENDAN MCDERMID

U.S. health insurer Anthem Inc 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.

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.

In This Story

ANTM

Latest Markets Videos

    Reuters

    Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

    Learn More