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Humana Posts Weaker 3Q Profit, But Raises Outlook

Health insurer Humana (NYSE:HUM) narrowed its third-quarter profit on Monday but raised its full-year outlook as newly announced acquisitions and medical claim reserves helped spark optimism.The Louisville, Ky.-based company posted net earnings of $426 million, or $2.62 a share, compared with a year-earlier profit of $445 million, or $2.67.Earnings were weighed down as people visited doctors more frequently and racked up insurance claims. Health-benefits companies fared relatively well during the recession as uncertainty pressured people to postpone non-emergency procedures.While the results topped average analyst estimates of $2.05 in a Thomson Reuters poll and beat the company's own estimate in a range of $2.00 to $2.10, Humana attributed some of the quarterly growth to the shifting of certain costs to the fourth quarter.Revenue for the three months ended Sept. 30 climbed 3.8% to $9.65 million from $9.3 million a year ago, led by higher services and premiums revenue, but missed the S...

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