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Aetna 2Q net income climbs 9 percent

Wed, 07/27/2011 - 2:45am
The Associated Press

Aetna says its second-quarter net income rose 9 percent in part because it benefited from a continued slowdown in the use of health care services by its members.

The health insurer also raised its full-year operating earnings forecast on Wednesday.

Aetna earned $536.7 million, or $1.39 per share, for the three months ended June 30. That's up from $491 million, or $1.14 per share, in the same period last year.

This beat the $1.07 per share that analysts expected.

Revenue slipped 3 percent to $8.34 billion from $8.55 billion, but still topped Wall Street's $8.25 billion.

Total medical membership fell 2 percent to 18.2 million members.

Aetna, based in Hartford, Conn., is the third-largest commercial health insurer based on both enrollment and revenue, trailing WellPoint and UnitedHealth.

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