Aetna tops Street 2Q forecasts
HARTFORD, Conn. — Aetna Inc. on Thursday reported second-quarter net income of $1.2 billion.
On a per-share basis, the Hartford, Connecticut-based company said it had profit of $3.60. Earnings, adjusted for non-recurring gains, came to $3.42 per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $2.34 per share.
The health insurer posted revenue of $15.52 billion in the period. Its adjusted revenue was $15.5 billion, also beating Street forecasts. Six analysts surveyed by Zacks expected $15.3 billion.
Aetna expects full-year earnings in the range of $9.45 to $9.55 per share.
Aetna shares have climbed 25 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 11 percent. The stock has risen 34 percent in the last 12 months.