Anthem Second Quarter Profit Falls

Anthem ranked highest among Indiana companies on the 2016 Fortune 500 list.

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Indianapolis-based Anthem Inc. (NYSE: ANTM) is reporting second quarter net income of $781 million, down from $859 million during the same period last year. Chief Financial Officer John Gallina says the results are in line with the company’s expectations.

The results come less than a week after Anthem announced the U.S. Department of Justice has filed a civil antitrust lawsuit to block the company’s $54 billion merger with Cigna Corp. (NYSE: CI). In the earnings release, Chief Executive Officer Joe Swedish said, "Our commitment to the pending Cigna acquisition remains as strong as ever and we believe this acquisition will further advance affordability and quality for our customers."

Swedish added the second quarter results reflect the company’s continued growth and diversification. The company is also reporting increases in medical enrollment and operating revenue for the second quarter.

You can view the full earnings report by clicking here.