Aetna Swings To Quarterly Loss; Revenue Falls Short Of Estimates

Aetna Inc. on Tuesday said it swung to a loss in the first quarter, but beat analyst expectations on an adjusted basis. The health care company said it lost $381 million, or $1.11 a share, compared with a profit of $737 million, or $2.08 a share, in the year-ago period. However, stripping out the costs associated with the termination of the Humana merger agreement, Aetna earned $2.71 a share. That compares with adjusted earnings of $2.32 a share last year and beat analyst forecasts of $2.37 a share. Revenue came in at $15.17 billion, down from $15.69 billion last year. Analysts had expected revenue of $15.40 billion, according to FactSet.