Aetna 2Q profit rises on membership, rates
Aetna's 2nd-quarter profit rises 6.4 percent on boost in membership, higher premium rates
Health insurer Aetna says its second-quarter profit rose 6.4 percent on membership growth and a hike in premium rates.
The Hartford, Conn.-based company earned $480.5 million, or 97 cents per share, compared with profit of $451.3 million, or 85 cents per share, during the same period last year.
Revenue rose 15 percent to $7.83 billion from $6.79 billion.
Analysts polled by Thomson Financial expected profit of 93 cents per share on revenue of about $7.87 billion, on average.
Aetna's medical benefit ratio_ what it pays for health care costs — rose slightly to 81.9 percent in the quarter, compared with 81.5 percent in the same quarter last year.
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