Aetna Earnings Up; Fewer Policy-Holders Visiting Doc
HARTFORD, Conn. (AP) _ Aetna says its second-quarter net income rose 9 percent in part because it benefited from a continued slowdown in the use of health care services by its members.
The health insurer also raised its full-year operating earnings forecast on Wednesday.
Aetna earned $536.7 million, or $1.39 per share, for the three months ended June 30. That’s up from $491 million, or $1.14 per share, in the same period last year.
This beat the $1.07 per share that analysts expected.
Revenue slipped 3 percent to $8.34 billion from $8.55 billion, but still topped Wall Street’s $8.25 billion.
Total medical membership fell 2 percent to 18.2 million members.
Aetna, based in Hartford, Conn., is the third-largest commercial health insurer based on both enrollment and revenue, trailing WellPoint and UnitedHealth.
(Copyright 2011 by The Associated Press. All Rights Reserved.)