Centene profit falls 70 percent on high flu costs

Centene profit falls 70 percent on high flu costs
(Reuters) - Health insurer Centene Corp reported a 70 percent drop in profit due to higher costs associated with a severe flu season in the United States and a weak performance by its Medicaid contracts in Texas and Kentucky. Net profit fell to $9.1 million, or 17 cents per share, for the quarter ended December 31, from $30.1 million, or 57 cents per share, a year earlier. Analysts on average expected earnings of 32 cents per share, according to Thomson Reuters I/B/E/S. Total revenue rose 59 percent to $2.4 billion of which premium and services revenue brought in $2.3 billion. ...
Source: news.yahoo.com