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WellPoint’s 2Q profit rises 4 percent
San Francisco Chronicle

Insurer WellPoint said Wednesday its second-quarter net income rose 4 percent due to favorable reserve development, even as commercial enrollment continued to tumble in a tough economy.

The Indianapolis insurer said it earned $722.4 million, or $1.71 per share, in the three months ended June 30. Excluding investment gains, earnings per share were $1.67. Per-share results are helped by fewer shares outstanding.