Summary Box: Aetna's 1Q profit, 2011 forecast grow

AP News
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Posted: Apr 28, 2011 2:01 PM
Summary Box: Aetna's 1Q profit, 2011 forecast grow

THE RESULTS: Health insurer Aetna Inc. said Thursday its first-quarter net income rose 4 percent to $586 million, or $1.50 per share. Revenue fell 3 percent to $8.39 billion. Adjusted earnings were $1.43 per share.

THE EXPECTATIONS: Analysts surveyed by FactSet forecast, on average, earnings of 96 cents per share on $8.32 billion in revenue.

A NEW OUTLOOK: Aetna now expects 2011 adjusted earnings to range between $4.20 and $4.30 per share. That's up from its forecast in February of between $3.70 and $3.80 per share and much higher than analyst expectations of $3.73 per share.