Aetna 2Q profit increases 2.4 percent, tops forecast
Aetna Inc. (AET) on Tuesday reported profit that climbed by 2.4 percent in its second quarter, and topped analysts' expectations.
The Hartford, Connecticut-based company said profit increased to $548.8 million, or $1.52 per share, from $536 million, or $1.49 per share, in the same quarter a year ago.
Earnings, adjusted for amortization costs and non-recurring costs, came to $1.69 per share. The average per-share estimate of analysts surveyed by Zacks Investment Research was for profit of $1.61.
The company said revenue climbed 26 percent to $14.51 billion from $11.54 billion in the same quarter a year ago, and beat Wall Street forecasts. Analysts expected $13.97 billion, according to Zacks.
Aetna shares have climbed $16.23, or 24 percent, to $84.82 since the beginning of the year, while the Standard & Poor's 500 index has climbed 7.1 percent. The stock has risen $21.42, or 34 percent, in the last 12 months.
This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full AET report: http://www.zacks.com/ap/AET