July 29, 2020 / 10:13 AM / 6 days ago

Anthem's quarterly profit nearly doubles on deferred care due to COVID-19

July 29 (Reuters) - U.S. health insurer Anthem Inc reported a 99.8% rise in quarterly profit on Wednesday, aided by lower medical costs as people delayed non-essential procedures due to the COVID-19 pandemic.

Net income rose to $2.28 billion, or $8.91 per share, in the second quarter ended June 30, from $1.14 billion, or $4.36 per share, a year earlier.

Total revenue rose to $29.3 billion from $25.47 billion. (Reporting by Manojna Maddipatla in Bengaluru; Editing by Shinjini Ganguli)

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