Aetna Q1 Results Beat Estimates; Lifts FY16 Earnings View Above Market

(RTTNews) - Health insurer Aetna Inc. (AET), which is in deal to acquire Humana Inc. (HUM), reported Thursday that its first-quarter net income attributable to the company declined 7 percent to $726.6 million from $777.5 million last year.

Net income per share was $2.06, down 6 percent from $2.20 a year ago.

Operating earnings were $810.8 million or $2.30 per share, compared to $844.3 million or $2.39 per share last year.

On average, 21 analysts polled by Thomson Reuters expected earnings of $2.23 per share. Analysts' estimates typically exclude special items.

Total revenue increased to $15.69 billion from $15.09 billion a year ago. Analysts expected revenues of $15.45 billion.

Aetna now projects full-year 2016 operating earnings per share of $7.90 to $8.10, compared to previous expectation of at least $7.75 per share. Analysts expect annual earnings of $7.95 per share.