Centene posts $1B profit amid lower costs

Centene reported a second-quarter net income of $1.09 billion, reversing a loss from the previous year, driven by improved management of rising medical costs and a lower health benefits ratio. Despite enrollment declines in marketplace plans, the company experienced a 4% increase in revenues to $44.4 billion, aided by rate hikes and risk adjustments. CEO Sarah M. London highlighted progress toward restoring profitability and increased full-year earnings guidance amid efforts to control costs.

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