Aetna boasts 52% 2Q profit increase

—PATRICIA DADDONA — August 3, 2017 — Hartford Business Journal —

Hartford health insurer Aetna boosted second quarter profits 52 percent as executives touted the company’s strategy to become more consumer-focused while planning for geographic expansion of its Medicare products.

In the quarter ended June 30, Aetna posted net income of $1.2 billion, or $3.60 per share, up from $791 million, or $2.23 per share, a year earlier.

Revenue totaled $15.5 billion in the second quarter, down from $16 billion in the year-ago period, slipping from falling enrollment as the company pulled back from the Affordable Care Act’s health insurance exchanges and exited the state of Missouri’s exchange. The company said it would exit the 2018 Obamacare insurance market for 2018.