Elevance Health Beats Q2 Estimates with $10.12 EPS and $43.22B Revenue

Jul 17, 2024, 10:33 AM

Elevance Health reported strong second-quarter 2024 results, beating Wall Street estimates for both earnings and revenue. The health insurer posted an adjusted EPS of $10.12, surpassing the expected $10.02, and operating revenue of $43.22 billion, exceeding the forecasted $43.12 billion. The company attributed its performance to lower-than-expected medical costs. Elevance's net income was $2.3 billion, and its EPS was up 12%. Revenue increased by 2.1% quarter-over-quarter, and the company has a market cap of $128.56 billion. Additionally, Elevance declared a quarterly dividend of $1.63 per share.