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Aetna 3Q profit falls on investment losses

Financial Law     updated  2008/10/30 09:32

Investment losses nearly chopped Aetna's third-quarter profit in half, and the managed care company said shaky financial markets create uncertainty for next year as well.

But analysts and company leaders say Hartford, Conn.-based Aetna Inc.'s business and investment portfolio of more than $18 billion remains sound.

Aetna said Wednesday its third-quarter earnings dropped 44 percent to $277.3 million, or 58 cents per share, compared with $496.7 million, or 95 cents per share, in the same quarter last year. Revenue rose 9.5 percent to $7.62 billion from $6.96 billion.

After-tax capital losses of $232 million were the main driver behind the drop.

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