Business

Humana posts lower 3rd qtr profit

Posted November 05, 2012 5:33 am

Associated Press

LOUISVILLE, Ky. — Health insurer Humana Inc. says its third-quarter net income fell 4 percent as more premium dollars from its members went to pay for medical claims.

But its earnings still beat analysts’ expectations and the company raised its earnings forecast for the full year.

Humana reported net income of $426 million, or $2.62 per share, for the latest quarter. That’s down from $445 million, or $2.67 per share, a year ago. Analysts expected earnings of $2.05 per share.

Revenue rose to $9.65 billion from $9.3 billion a year ago. Analysts expected $9.88 billion.

Humana Inc. said Monday it expects to earn $7.25 to $7.35 per share in 2012, up from its previous estimate of $6.90 to $7.10 per share. Analysts expected earnings of $7.12 per share for the year.

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