Elevance Health Inc. Q2 Profit Increases, beats estimates

(RTTNews) - Elevance Health Inc. (ELV) announced a profit for its second quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $1.853 billion, or $7.79 per share. This compares with $1.637 billion, or $6.73 per share, in last year's second quarter.

Excluding items, Elevance Health Inc. reported adjusted earnings of $2.149 billion or $9.04 per share for the period.

Analysts on average had expected the company to earn $8.8 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.0% to $43.672 billion from $38.632 billion last year.

Elevance Health Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $1.853 Bln. vs. $1.637 Bln. last year. -EPS (Q2): $7.79 vs. $6.73 last year. -Analyst Estimate: $8.8 -Revenue (Q2): $43.672 Bln vs. $38.632 Bln last year.

-Guidance: Full year EPS guidance: Over $32.85