News Summary: Aetna 3Q profit climbs 2 percent
THIRD QUARTER: Health insurer Aetna Inc. said its third-quarter earnings rose 2 percent as lower-than-expected health care use and revenue gains helped the insurer trump Wall Street expectations. Aetna earned $499.2 million, or $1.47 per share. Adjusted earnings totaled $1.55 per share, and revenue climbed 5 percent to $8.92 billion.
THE EXPECTATONS: Analysts surveyed by FactSet expected, on average, earnings of $1.33 per share on $8.83 billion in revenue.
REFINED FORECAST: Aetna now forecasts 2012 adjusted earnings of about $5.10 per share after previously forecasting earnings of $5 to $5.10 per share. Analysts expect $5.08 per share.