Shares of health Insurance company Aetna AET are up in the premarket after the company reported Q2 earnings. EPS beat expectations by 7.8 percent at $1.52 while revenue missed by 3.75 percent, coming in at 11.54 billion.
Pleased with second quarter results, CEO Mark Bertolini commented: “We continued to make progress to transform the health care system on multiple fronts during the quarter... and earning recognition by an independent research organization as having the most 'transformational' accountable care relationships in the industry.”
Related: Jefferies Raises PT on Aetna Ahead of 2Q Earnings Report
Year over year revenue is up more than 30 percent with net income up 17.1 percent. The biggest gains were seen in health care premiums, which also saw the largest increase in expenses.
Looking forward to the rest of the year, Bertolini said the company can “raise our operating earnings guidance again to $5.80 to $5.90 per share. At its midpoint, our revised guidance would represent growth of 14 percent in operating earnings per share in 2013, and 17 percent compound annual growth since 2010.”
Shares are up almost two percent in the premarket to $64.64.
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