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Humana's 3rd-quarter earnings rise 30 percent

Mon, 11/01/2010 - 2:45am
The Associated Press

Humana Inc.'s third-quarter net income climbed 30 percent partly on higher than expected medicals claims as Medicare Advantage enrollment rose.

The health insurer also boosted its full-year earnings guidance on Monday.

Humana is the second largest provider of Medicare Advantage plans, trailing only UnitedHealth Group Inc.

Humana earned $393.2 million, or $2.32 per share, for the three months ended Sept. 30. That's up from $301.5 million, or $1.78 per share, a year earlier.

Revenue rose 9 percent to $8.42 billion.

Analyst forecast earnings of $1.66 per share on revenue of $8.46 billion.

Humana now expects 2010 earnings between $6.40 and $6.50 per share. Analysts predict $6.42 per share.

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