May 7 Humana Inc said on Wednesday that
first-quarter profit fell as it spent more on marketing and
investments related to new products, such as certain Medicare
Advantage and Obamacare exchange plans, as well as healthcare
reform taxes and fees.
The company reported net profit of $368 million, or $2.35
per share, down from $473 million, or $2.95 per share a year
earlier. The year-earlier figure included a 41 cent-per-share
benefit from settling contract claims.
Humana kept its 2014 outlook unchanged at $7.25 to $7.75 per
share, which it said accounted for such factors as better
performance across its businesses but higher-than-expected drug
costs for the treatment of Hepatitis C.
(Reporting by Caroline Humer Editing by W Simon)