Aetna Raises Outlook Though Profits Fall and Expenses Rise

Health insurance provider Aetna matched Wall Street estimates after posting fourth quarter profit of $232 million or $0.65 a share. Earnings were down 37 percent on last year's numbers as operating and drug costs increased and the company spent more on growing its consumer and government businesses. Aetna's enrollment numbers were up six percent as millions of people signed up for coverage following the government's healthcare overhaul. Shares jumped on the news with the stock up around four percent since the start of the year. The company is now projecting earnings of at least $7 a share for 2015, an increase of ten cents from its previous estimates.