Humana Earnings Easily Top Wall Street Estimates

Humana (HUM) reported diluted earnings per common share of $2 for the second quarter, up from $1.67 in the second quarter of 2009. The earnings easily beat the company's guidance of $1.65 to $1.70 per share, Humana said in a statement.

Consolidated revenue gained 10% to $8.65 billion, from $7.9 billion in the second quarter of 2009. The increase was driven by an 18% rise in average membership for Humana's Medicare Advantage plans.

"We are pleased with this quarter's performance as it is the result of strength in both our Commercial and Government segments," said Michael B. McCallister, Humana's chief executive officer.

The company raised its guidance for 2010 earnings to a range of $5.65 to $5.75, from a previous estimate of $5.55 to $5.65.