Humana Inc, the health benefits provider, beat Wall Street earnings expectations on Monday as net income in the second quarter rose 34 percent.
The Louisville, Kentucky based firm reported was $281.8 million compared with $209.9 million in the same quarter last year. Diluted earnings per share were $1.67, up from $1.24 in the year ago period. Total revenues were up 7.5 percent to $7.90 billion.
Wall Street analysts had expected earnings of $1.64 per share, according to a poll by Thomson Reuters.
“We’re making progress reducing costs and investing in improved health outcomes for our members while we closely monitor events in Washington, said Michael McCallister, Humana's president and chief executive in a released statement.
Humana said it is protesting to the Government Accountability Office regarding a July decision to not be awarded a third generation Tricare military benefits contract for the South Region.
Humana shares rose 5.7 percent to $34.72 in pre-market trading.