Profits soar at Anthem in Q2 2017 results


Profits soar at Anthem in Q2 2017 results

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Health insurer Anthem has reported a profit in its second quarter 2017 results.

The company announced that its Q2 net income was $855.3 million, compared with $780.6 million a year ago.

The operating revenue was reported $22.2 billion in the second quarter, up from $21.3 billion in the prior year quarter. According to the company, the increase was driven by higher enrollment in the Local Group insured and self-funded businesses, as well as in Medicaid and Medicare.

Anthem's medical enrollment has increased by approximately 0.5 million members in 2017, totaling approximately 40.4 million members as of June 30, 2017. It expects the enrollment to grow by nearly 300-500 thousand members for the full year 2017.

The company has increased its third quarter 2017 dividend to shareholders by $0.05 per share to $0.70 per share. In Q2, it paid a quarterly dividend of $0.65 per share, representing a distribution of cash totaling $171.8 million.

“I am pleased with our second quarter 2017 results, carrying forward our operating momentum," said Joseph Swedish, president and chief executive officer of Anthem. "Our commitment to improving the quality and affordability of health care for our customers is resonating in the marketplace and benefiting our shareholders."

John Gallina, executive vice president and chief financial officer, added: "Our solid second quarter financial results reflect solid performance across our various business segments, which is reflected in our updated 2017 outlook."

Anthem, Second quarter 2017 results, Health insurance, Joseph Swedish, US