Hartford health insurer Aetna, which recently announced plans to acquire Kentucky insurer Humana, said Tuesday that its second quarter profits grew 33 percent thanks largely to higher than expected gains from its government business.
Aetna said its net income for the quarter ending June 30 totaled $731. 8 million, or $2.08 a share, from $548.8 million, or $1.52 a share, a year earlier. Revenues in the quarter grew 5 percent to $15.2 billion, from $14.5 million a year ago.
The profit boost was largely the result of higher than expected business in its Medicare and Medicaid insurance lines and moderate medical cost growth, which offset higher operating costs.
Aetna also raised its 2015 outlook, boosting its earnings per share guidance to at least $7.40 per share from a previous projection of $7.20 to $7.40 per share.Â
