Aetna’s earnings and revenue beat Wall Street expectations, in part due to slower-than-expected growth in healthcare utilization, which has helped insurers outperform expectations over the last year.
Aetna reported Wednesday that it earned $372.6 million ($1.02 per share) in the three months ending Dec. 31. That’s an increase from $215.6 million ($0.53 per share) in the same quarter in 2010. Revenue climbed slightly to $8.57 billion.
Aetna is currently the third largest commercial health insurer based on both enrollment and revenue, behind WellPoint and UnitedHealth Group. Healthcare costs — the amount the company paid in medical claims — fell 2 percent last quarter, and operating expenses also fell 3 percent.
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