Humana Inc. reported Monday that its second-quarter profit more than doubled from a year ago on the strength of improved cost controls and sharply higher income from its government business.
For the three months ended June 30, posted net income of $216.8 million, or $1.28 a share, up from $89.5 million, or 53 cents a share, in the same period last year.
Analysts had been expecting net profit of $1.17 per share for the quarter, but the company said earlier it would exceed that by 11 cents.
Revenue rose 19 percent to $6.43 billion, compared with $5.41 billion a year ago, while premium and administrative service fees were up 18 percent, mainly driven by higher average Medicare membership.
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