UPDATE 2-Centene profit beats on Obamacare strength, higher enrollments

* Raises FY adj. EPS forecast to $4.70-$5.06

* Q2 revenue rises 9.6 pct to $11.95 bln

* Shares up 3.3 pct premarket (Adds analysts' comments, details, shares)

July 25 (Reuters) - Centene Corp's quarterly profit topped analysts' estimates on higher enrollments and growth in its Obamacare business and the health insurer raised its full-year adjusted profit forecast.

The results come a week after President Donald Trump and Republicans revised attempts to dismantle former President Barack Obama's Affordable Care Act (ACA), commonly known as Obamacare, collapsed in the U.S. Senate.

On Monday, President Trump made a last-ditch plea to U.S. Senate Republicans to "do the right thing" and fulfill campaign promises to repeal and replace Obamacare. The Senate will vote on Tuesday whether to open debate on an overhaul of the law.

Centene, one of the largest players in the Obamacare individual insurance market, last month disclosed its plans to expand into three new states in 2018.

The move came in contrast to other insurers, that have blamed Republicans for not guaranteeing continued payment of Obamacare cost-sharing subsidies next year, among other reasons for market instability.

"Centene remains the only larger-cap publicly-traded managed care company to show strong performance in its individual exchange efforts," Cantor Fitzgerald analysts said.

Net earnings attributable to Centene rose to $254 million, or $1.44 per share, in the second quarter ended June 30, from $170 million, or 97 cents per share, a year earlier.

Excluding items, Centene earned $1.59 per share.

The company said its second-quarter earnings included a 17 cents per share net benefit related to risk adjustment under the ACA.

Centene's adjusted profit of $1.42 per share was above analysts' expectations of $1.32 per share, according to Thomson Reuters I/B/E/S.

"We believe CNC is the best way to play the reform cycle with potential for multiple expansion now that Medicaid expansion and exchanges look more secure," Piper Jaffray analysts said.

Revenue rose to $11.95 billion from $10.90 billion, slightly ahead of analysts' average estimate of $11.69 billion.

The company, which primarily focuses on government-backed health insurance plans, had 12.2 million members in its individual plans as of June 30, an increase of about 7 percent.

Centene's health benefits ratio, or the amount it spends on medical claims compared with its income from premiums, improved marginally to 86.3 percent, from 86.6 percent a year earlier. A lower ratio is better for the insurer.

Shares of the St. Louis, Missouri-based company, which raised its full-year 2017 forecast to be between $4.70 per share and $5.06 per share, were up 3.3 percent at $87.00 in premarket trading. (Reporting by Divya Grover in Bengaluru; Editing by Martina D'Couto)