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October 28, 2014

Aetna 3Q profits rise on membership, premium growth

Hartford health insurer Aetna said its third-quarter profits grew nearly 15 percent, thanks to a growing number of medical customers and premium revenue increases.

The insurer booked $594.5 million in net income, or $1.67 per share, up from $518.6 million, or $1.38 per share in the third quarter a year ago. Total revenue climbed 13 percent, to $14.73 billion.

The profits beat analysts’ expectations of $1.57 per share, as compiled by Zack’s Investment Research.

As a result, Aetna raised its full-year operating earnings per share to a range of $6.60 to $6.70 from a range of $6.45 to $6.60.

The insurer added 470,000 medical members during the quarter — a 2 percent increase from the second quarter.

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