(Adds details, shares)
April 24 U.S. health insurer Humana Inc
on Monday reported first-quarterly profit that topped its own
expectations and the company raised its full-year profit
forecast, mainly helped by a strong performance in its retail
The company said the results in its retail business were
largely attributable to "prior period development" in its
direct-to-customer Medicare Advantage unit, which sells plans to
the elderly and people with disabilities.
Humana's shares rose 2.5 percent to $219 in trading after
the bell on Monday. The company had said it would issue
preliminary results ahead of its investor day scheduled for
Humana said its earnings per share rose to $7.49 in the
first quarter from $1.68 a year earlier, while revenue dipped
slightly to $13.76 million from $13.80 million.
Excluding the individual commercial medical business, which
Humana will no longer offer from 2018, first-quarter revenue
rose to $13.5 million from $12.9 million.
The company said it now expects full-year earnings of at
least $16.91 per share, compared with its prior forecast of
$16.65 to $16.85 per share.
The insurer expects full-year earnings of at least $11.10
per share, excluding one-time items, compared with its previous
guidance of $10.80 to $11.00 per share.
(Reporting by Divya Grover in Bengaluru; Editing by Savio