The Tampa, Fla., company earned $88.3 million, or $2.03 per share, in the three months that ended Sept. 30. That compares with earnings of $42.9 million, or $1 per share, in last year's quarter.
Stripping out one-time costs, WellCare said it earned $2.15 per share in the third quarter.
Revenue climbed 11 percent to $1.54 billion.
The performance trumped Wall Street expectations. Analysts surveyed by FactSet expected, on average, earnings of $1.31 per share on about $1.5 billion in revenue.
WellCare provides managed care for government-sponsored health plans like Medicare and Medicaid. Its enrollment grew 10 percent to 2.4 million people, compared with the same quarter last year.
WCG is currently up 3.55 to 51.32
This is the stock that dropped from 137 to 20 when the FBI raided its headquarters back in 2007. Looks like it finally has its troubles behind them. Here's the long term chart:
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