Aetna 2Q profit rises 2.4 percent
HARTFORD, Conn. (AP) — Aetna Inc. (AET) on Tuesday reported profit that climbed by 2.4 percent in its second quarter, and topped analysts' expectations.
The Hartford, Connecticut-based company said profit increased to $548.8 million, or $1.52 per share, from $536 million, or $1.49 per share, in the same quarter a year ago.
Earnings, adjusted for amortization costs and non-recurring costs, came to $1.69 per share. The average per-share estimate of analysts surveyed by Zacks Investment Research was for profit of $1.61.
The company said revenue climbed 26 percent to $14.51 billion from $11.54 billion in the same quarter a year ago, and beat Wall Street forecasts. Analysts expected $13.97 billion, according to Zacks.
Aetna shares have climbed $16.23, or 24 percent, to $84.82 since the beginning of the year, while the Standard & Poor's 500 index has climbed 7.1 percent. The stock has risen $21.42, or 34 percent, in the last 12 months.
This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full AET report: http://www.zacks.com/ap/AET