LOUISVILLE (AP) — Humana Inc. (HUM) on Wednesday reported second-quarter earnings of $431 million.
The Louisville, Kentucky-based company said it had profit of $2.85 per share. Earnings, adjusted for non-recurring gains, came to $1.67 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.63 per share.
The health insurer posted revenue of $13.73 billion in the period, missing Street forecasts. Ten analysts surveyed by Zacks expected $13.79 billion.
Humana expects full-year earnings to be $7.75 per share.
Humana shares have increased 28 percent since the beginning of the year, while the Standard & Poor's 500 index has risen roughly 2 percent. The stock has increased 41 percent in the last 12 months.