Humana's 3rd-quarter earnings rise 30 percent

[November 01, 2010]  NEW YORK (AP) -- Humana Inc.'s third-quarter net income climbed 30 percent partly on higher-than-expected medical claims as Medicare Advantage enrollment rose.

The health insurer also boosted its full-year earnings guidance on Monday.

Humana is the second-largest provider of Medicare Advantage plans, trailing only UnitedHealth Group Inc.

Humana earned $393.2 million, or $2.32 per share, for the three months ended Sept. 30. That's up from $301.5 million, or $1.78 per share, a year earlier.

Revenue rose 9 percent to $8.42 billion.

Analyst forecast earnings of $1.66 per share on revenue of $8.46 billion.

Humana now expects 2010 earnings between $6.40 and $6.50 per share. Analysts predict $6.42 per share.

[Associated Press]

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.