LOUISVILLE, Ky. (AP) - Humana Incorporated reports today that its second-quarter profit more than doubled from a year ago on the strength of improved cost controls and sharply higher income from
its government business.
For the three months ended June 30th, Humana posted net income of 216-point-eight (m) million dollars or a dollar-28 cents a share, up from 89-and-a-half (m) million, or 53 cents a share, in the same period last year.
Analysts had been expecting net profit of a dollar-17 per share for the quarter, but the company said earlier it would exceed that by eleven cents.
Revenue rose 19 percent, while premium and administrative service fees were up 18 percent, mainly driven by higher average Medicare membership.
The company also reaffirmed its full-year earnings projection.
(Copyright 2007 by The Associated Press. All Rights Reserved.)
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