UPDATE: Health Net Posts Q1 Profit

Health Net

posted a profit in the first quarter. Health Net expects full-year earnings of $2.20 to $2.30 per share on revenue of $10.7 billion to $11.2 billion. However, analysts were expecting earnings of $2.07 per share on revenue of $11.32 billion. Health Net posted a quarterly profit of $50.1 million, or $0.62 per share, versus a year-ago loss of $26.6 million, or $0.32 per share. Its revenue fell 1.2% to $2.8 billion. However, analysts were expecting earnings of $0.41 per share on revenue of $2.79 billion. Health Net shares closed at $28.15 on Friday.