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Aetna Swings to a First-Quarter Profit

By The Associated Press | May 1, 2018 | Reprints | Unlock Link | Print

Aetna, which is being acquired by CVS Health Inc., is reporting that it swung to a first-quarter profit.

The health insurer reported net income of $1.21 billion Tuesday, after reporting a loss in the same period a year earlier.

The Hartford-based company had net income of $3.67 per share, or $3.19 when adjusted for non-recurring gains. That’s far above the $2.97 industry analysts were expecting, according to a survey by Zacks Investment Research.

Revenue was $15.34 billion, or $15.2 billion, when adjusted, just shy of forecasts.

Shares of Aetna Inc. are edging lower before the opening bell.