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Aetna beats 3Q earnings expectations, misses revenue forecasts

HARTFORD, Conn. (AP) _ Aetna Inc. (AET) on Thursday reported third-quarter net income of $560.1 million.

The Hartford, Connecticut-based company said it had profit of $1.59 per share. Earnings, adjusted for non-recurring costs and amortization costs, came to $1.90 per share.

The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.78 per share.

The health insurer posted revenue of $14.99 billion in the period, falling short of Street forecasts. Ten analysts surveyed by Zacks expected $15.16 billion.

Aetna shares have increased 25 per cent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 1.5 per cent. The stock has climbed 44 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AET at http://www.zacks.com/ap/AET

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Keywords: Aetna, Earnings Report, Priority Earnings