Health insurer Aetna's 2Q profit jumps 17 percent
Aetna says its second-quarter earnings jumped 17 percent and it raised its 2013 forecast, as the health insurer reaped revenue and enrollment gains from its acquisition of fellow insurer Coventry Health Care.
The Hartford, Conn., company says it earned $536 million, or $1.49 per share, in the three months that ended June 30. That's up from $457.6 million, or $1.32 per share, in last year's second quarter.
Adjusted earnings totaled $1.52 per share, excluding items like capital gains or losses.
Revenue climbed 31 percent to $11.56 billion, also excluding capital gains and losses.
Analysts forecast earnings of $1.40 per share on about $11.9 billion in revenue.
Aetna now expects 2013 adjusted earnings of between $5.80 and $5.90 per share, up from its previous projection of $5.70 to $5.85 per share.