Humana 2Q net income rises 21 percent on premiums

Mon, 08/02/2010 - 2:45am
The Associated Press

Health insurer Humana says its second-quarter net income rose 21 percent on a boost in revenue from premiums and service fees.

The Louisville, Ky. company earned $340.1 million, or $2 per share, up from $281.8 million, or $1.67 per share, a year prior. Revenue jumped 9.5 percent to $8.65 billion from $7.9 billion as membership for Medicare Advantage plans rose 18 percent.

Analysts polled by Thomson Reuters expected $1.67 per share in net income on $8.61 billion in revenue.

Looking ahead, the company is raising its full-year guidance and now expects net income per share between $5.65 and $5.75 instead of between $5.55 and $5.65.


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