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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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Read HereThis special edition informs and connects businesses with nonprofit organizations that are aligned with what they care about. Each nonprofit profile provides a crisp snapshot of the organization’s mission, goals, area of service, giving and volunteer opportunities and board leadership.
Hartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
Delivering Vital Marketplace Content and Context to Senior Decision Makers Throughout Greater Hartford and the State ... All Year Long!
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