Aetna Profit Rises

Health insurer Aetna ( AET) Thursday reported a higher first-quarter profit and reaffirmed 2004 guidance, as it managed to boost membership in its plans by 2.6% during the period.

The Hartford, Conn.-based company said net income rose 11% to $365.8 million, or $2.28 a share, vs. $330 million, or $2.12 a share, in the year-ago period. Excluding items, the company earned $1.75 a share, vs. $1.34 a year ago. The consensus estimate was for $1.72 a share, according to Thomson First Call.

Revenue rose to $4.82 billion from $4.66 billion a year ago. The company said medical membership rose 342,000 in the quarter to 13.3 million, compared to the end of 2003.

The company reaffirmed full-year EPS of $6.60 to $6.75. The consensus estimate is for $6.81 per share.

Shares closed at $87.85 Wednesday.

More from Opinion

These 5 Tech Giants Still Aren't That Expensive

These 5 Tech Giants Still Aren't That Expensive

50 Stocks That Could Be Shredded If a U.S. Trade War With China Ignites

50 Stocks That Could Be Shredded If a U.S. Trade War With China Ignites

Intel CEO Brian Krzanich's Ouster Proves CEOs Aren't Above the Rules

Intel CEO Brian Krzanich's Ouster Proves CEOs Aren't Above the Rules

Red Hat CFO Tells TheStreet: Tech Trends Are Still in Our Favor

Red Hat CFO Tells TheStreet: Tech Trends Are Still in Our Favor

Throwback Thursday: Intel Edition

Throwback Thursday: Intel Edition