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Insurer Humana's 3Q profit climbs 13 percent

Mon, 10/31/2011 - 2:45am
The Associated Press

Humana says its third-quarter net income jumped 13 percent as revenue climbed 11 percent. The health insurer also raised its 2011 earnings forecast.

The Louisville, Ky., company now expects 2011 earnings of $8.35 to $8.40 per share, up from previous guidance of $7.50 to $7.60 per share.

Humana says it earned $444.7 million, or $2.67 per share, in the three months that ended Sept. 30. That compares to earnings of $393.2 million, or $2.32 per share, in last year's quarter.

Revenue climbed to $9.3 billion from $8.35 billion.

Adjusted income was $2.54 per share. The performance beat Wall Street forecasts. Analysts forecast earnings of $2.03 per share on $9.26 billion in revenue.

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