Aetna 3Q profit jumps 53 percent on lower costs

[November 03, 2010]  NEW YORK (AP) -- Health insurer Aetna says its third-quarter net income jumped 53 percent on lower benefits and expenses.

The Hartford, Conn., insurer says it earned $497.6 million, or $1.19 per share, in the three months that ended September 30. That's up from the $326.2 million, or 73 cents per share, in the same period last year. Revenue was down 2 percent to $8.54 billion.

Adjusted earnings were 84 cents per share.

Analyst polled by Thomson Reuters forecast a profit of 67 cents per share on $8.47 billion in revenue.

Aetna is the third largest commercial health insurer based on enrollment, trailing WellPoint and UnitedHealth.

[Associated Press]

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