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Insurance Giant Humana Stock Tumbles After Q2 Earnings Beat, Issues Sub Par Profit Outlook
Wednesday, Humana Inc (NYSE:HUM) posted second-quarter adjusted EPS of $6.96, down from $8.94 a year ago, beating the consensus of $5.85.
“This outperformance was driven by higher than anticipated revenue in our MA business, combined with favorable claims development and lower than planned administrative expenses, some of which is considered timing in nature,” the company said.
The company reported revenues of $29.54 billion, up from $26.75 billion, beating the consensus of $28.51 billion.
The sales increased on higher per-member Medicare premiums, and Medicare Advantage and state-based contracts membership growth.
“Revenue for the quarter was slightly favorable to expectations driven by the higher than anticipated ...