By Maitane Sardon

 

Humana Inc. on Wednesday said its profit for its first quarter fell, but the health insurer's revenue beat analysts' expectations.

Humana reported net earnings of $717 million, or $3.56 a share, compared with $746 million, or $4.16 a share, a year ago. Adjusted earnings were $5.40 a share for the latest quarter.

Analysts polled by FactSet were expecting earnings of $4.61 a share, or $4.66 a share on an adjusted basis.

Revenue rose to $18.93 billion from $16.1 billion a year earlier. Analysts had expected $18.4 billion of revenue in the quarter.

The company said the financial impact of the coronavirus pandemic wasn't material to its results during the first quarter.

It expects earnings per share for fiscal 2020 between $16.04 to $16.54, and it reaffirmed its adjusted earnings per share guidance range of $18.25 to $18.75 while "acknowledging the inherent uncertainty surrounding the ongoing crisis."

 

Write to Maitane Sardon at maitane.sardon@wsj.com

 

(END) Dow Jones Newswires

April 29, 2020 07:11 ET (11:11 GMT)

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