Aetna reports slight 1Q profit increase

[March 19, 2010]  HARTFORD, Conn. (AP) -- Managed-care company Aetna Inc. says its first-quarter profit rose slightly due to membership gains and premium increases.

The Hartford, Conn.-based insurer says it earned $437.8 million, or 95 cents per share, compared with $431.6 million, or 85 cents per share, in the same quarter last year.

Revenue rose 11 percent to $8.6 billion.

The company says operating earnings were 96 cents per share. That topped Wall Street expectations.

Thomson Reuters says analysts expected earnings of 93 cents per share on $8.5 billion in revenue.

Total medical membership rose 9 percent to more than 19 million people. The insurer added large national accounts for Bank of America Corp. and Home Depot Inc. during the quarter.

[Associated Press]

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