INDIANAPOLIS (AP) — WellPoint Inc.'s second-quarter net income jumped 24 percent, as an acquisition boosted revenue and a lower-than-expected increase in medical costs helped the nation's second-largest health insurer.
The performance topped Wall Street's earnings expectations and prompted the insurer to raise its forecast for 2013.
WellPoint's stock then climbed more than 2 percent, or $1.99, to $89.50 Wednesday before markets opened.
Shares closed Tuesday at $87.51, WellPoint's highest closing price since January 2008, according to FactSet. WellPoint's shares price is up nearly 44 percent so far this year.
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