Aetna 1Q profit slips 4 pct, boosts 2013 forecast

Apr 30, 2013

Aetna says its first-quarter net income fell 4 percent as acquisition-related costs and rising health care expenses more offset government business gains.

But its earnings still topped expectations. The health insurer also is raising its 2013 forecast.

The Hartford, Conn., company earned $490.1 million, or $1.48 per share, in the three months that ended March 31. That's down from $511 million, or $1.43 per share, in last year's quarter.

Adjusted earnings totaled $1.50 per share. That trumped for $1.38 per share.

Operating revenue climbed 7 percent to $9.51 billion, short of analyst expectations for $9.56 billion.

Aetna says it now expects 2013 earnings to range between $5.50 and $5.60 per share, up from its previous forecast for at least $5.40. Analysts expected $5.53 per share.

Aetna Inc. is the third-largest commercial based on enrollment.

Explore further: Record labels sue Pandora over older songs

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Insurer WellPoint's 3Q net income edges higher

Nov 07, 2012

(AP)—WellPoint says its third-quarter net income rose 1 percent, as the nation's second largest health insurer trimmed expenses to balance flat revenue and an enrollment decline.

Dell earnings down 31 percent in 4Q

Feb 19, 2013

(AP)—Dell Inc.'s net income fell 31 percent in the latest quarter as the company continued to be hurt by a shrinking PC market.

CenturyLink 3Q net income falls as expenses rise

Nov 02, 2011

(AP) -- Phone company CenturyLink Inc. says its third-quarter net income fell as rising operating expenses related to its April acquisition of larger phone company Qwest overshadowed increased revenue.

Time Warner 4Q earnings up, raises dividend 11 pct

Feb 06, 2013

Time Warner is reporting a 51 percent increase in fourth-quarter earnings even as revenue was largely unchanged. Rising fees from cable and satellite companies and higher ad revenue at the TV networks offset revenue declines ...

Hewlett-Packard reports higher 3Q earnings

Aug 19, 2011

(AP) -- Hewlett-Packard Co. reported an increase in its third-quarter net income on Thursday, but the technology company gave a lower-than-expected outlook for the current quarter and cut its outlook for ...

BlackBerry maker slashes short-term sales forecast

Apr 28, 2011

(AP) -- Research In Motion Ltd., the maker of the BlackBerry, on Thursday cut its sales and earnings forecasts for the current quarter, saying it's shipping fewer and cheaper phones than it had expected.

Recommended for you

Weibo IPO below expectations, raises $285.6 mn

17 hours ago

Sina Weibo sold fewer shares than expected in its US IPO which was priced below expectations ahead of a Thursday listing that takes place after tech selloffs on Wall Street.

'Chief Yahoo' David Filo returns to board

18 hours ago

Yahoo announced the nomination of three new board members, including company co-founder David Filo, who earned the nickname and formal job title of "Chief Yahoo."

Fired Yahoo exec gets $58M for 15 months of work

18 hours ago

Yahoo's recently fired chief operating officer, Henrique de Castro, left the Internet company with a severance package of $58 million even though he lasted just 15 months on the job.

User comments : 0

More news stories

Hackathon team's GoogolPlex gives Siri extra powers

(Phys.org) —Four freshmen at the University of Pennsylvania have taken Apple's personal assistant Siri to behave as a graduate-level executive assistant which, when asked, is capable of adjusting the temperature ...

Better thermal-imaging lens from waste sulfur

Sulfur left over from refining fossil fuels can be transformed into cheap, lightweight, plastic lenses for infrared devices, including night-vision goggles, a University of Arizona-led international team ...

Deadly human pathogen Cryptococcus fully sequenced

Within each strand of DNA lies the blueprint for building an organism, along with the keys to its evolution and survival. These genetic instructions can give valuable insight into why pathogens like Cryptococcus ne ...