Amerigroup's stock jumps as earnings nearly triple

Posted to: Business Virginia Beach
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By Christopher Dinsmore
The Virginian-Pilot
© October 29, 2010

Shares in Amerigroup Corp. jumped in early trading today after it reported that its earnings nearly tripled in the third quarter.

The Virginia Beach-based health insurance company said it earned $84.3 million, or $1.68 per share, in the quarter ended Sept. 30, compared with income of $22.5 million, or 43 cents a share, a year earlier.

Its shares leapt $1.30 each to $43.06 in early trading.

Amerigroup, whose managed-care plans serve beneficiaries of Medicaid and other government-funded programs, reported revenue of $1.49 billion, up 14.6 percent from the same quarter last year.

Membership in its plans grew by 29,000 to about 1.9 million members as of Sept. 30.

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THIS CAN'T BE TRUE!

Submitted by rattler78 on Fri, 10/29/2010 at 10:43 am.

Government take-over of healthcare! Socialism; "We want our country back!"

Take our Country

Submitted by lovestolaugh on Sat, 10/30/2010 at 9:43 am.

Back to what? The previous administration's economic policies that have shrunk the middle class and put us so close to another depression? How far back do you want to take it? Back to the founding of the Constitution when women and black citizens did not have the right to vote? Take a look at other nations with universal healthcare and compare their health outcomes to ours. The FACT is, no matter how you try to argue it, they have better health outcomes overall than we do in this country! For example, we rank 35th, which is absolutely HORRENDOUS, in infant mortality! 34 other nations rank better than we do!!! We have children dying because their parents cannot afford healthcare and that is unacceptable! I'll take your so-called "socialism" over the fascism and growing hatred/racism of the Tea Party and the rest of the right any day! It's less far less scary!!

Uh, the gov't healthcare is

Submitted by Ethan on Fri, 10/29/2010 at 3:53 pm.

Uh, the gov't healthcare is the gov't forcing the people to buy insurance from the bad guys. The insurance companies.

I'm guessing Amerigroup somehow gets it's money from the gov't and not private productivity.

I think they make money by

Submitted by Fe_Fi_Foe on Fri, 10/29/2010 at 4:18 pm.

I think they make money by discouraging pregnant women and individuals with special needs from enrolling at least that is what they just settled a lawsuit for.

Lets go capitalism with a lack of regulation!!!