Humana 3Q Profit Rises 30%

Third-quarter profit at health-insurance company Humana (NYSE:HUM) rose 30% as revenue rose on increased enrollment. The company’s largest segment of government accounts experienced a 17% jump in earnings with a 1.4% increase in membership over the previous year.

Humana’s profit totaled $393.2 million, or $2.32 per share, up from $301.5 million or $1.78 per share in the year prior. Revenue was up to $8.42 billion or 9.2%. Thomson Reuters analysts polled had projected earnings of $1.66 and $8.46 billion in revenue.

Moving forward, the company raised its 2010 target from $5.55 to $5.65 per share to $6.40 to $6.50 per share due to expectations for an extension of the “Tricare” health plan contract with the Defense Department.