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Health insurer Aetna's 3rd-quarter profit slips 1 percent; co. raises 2011 earnings forecast
INDIANAPOLIS (AP) ' Health insurer Aetna says its third-quarter net income slipped 1 percent, but the performance trumped expectations and the health insurer is raising its 2011 earnings forecast.
The Hartford, Conn., insurer now expects 2011 adjusted earnings of $5 per share, up from its forecast in July for $4.60 to $4.70 per share.
Aetna says it earned $490.4 million, or $1.30 per share, in the three months that ended Sept. 30. That's down from $497.6 million, or $1.19 per share, in the same period last year. Revenue fell 1 percent to $8.4 billion.
Analyst forecast earnings of $1.15 per share on $8.28 billion in revenue.
Aetna is the third-largest commercial health insurer based on both enrollment and revenue, trailing WellPoint and UnitedHealth.