Humana (NYSE:HUM) said that an increase in the number on people enrolled in its services as well as the fact that less people where using their health care services helped to push the company to report a 35 percent profit increase in its second quarter.
The company said that for the three month period ending on June 30th that it earned $460.3 million, or $2.71 per share, beating last years results by 35 percent to $340.1 million, or $2 per share. Revenue also jumped by 8.1 percent to $9.28 billion. Adjusted earnings came out at $2.50 a share which beat analyst expectations of $2.05 per share. Humana was on par with Wall Streets revenue predictions of $9.28 billion.
The better than expected results lead to Humana boosting their full year forecast to $7.50 to $7.60 per share, up from its previous expectations of $6.70 to $6.90 per share. Analysts hold a 2011 earnings prediction of $7.02 per share.
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