Coventry Health Care Inc. in Bethesda, Md., reported strong first-quarter earnings Friday on growth in premiums.
Processing Content
The health insurer said its earnings grew 7.4%, to $121 million, or 74 cents per share, from the year earlier. The average of estimates by analysts sampled by Thomson First Call was 73 cents per share.
Revenue rose 24%, to $1.94 billion, the company said, including $1.72 billion of managed-care premiums. Coventry reported a 4.2% increase in people covered by its health plans, to 2.55 million, since the year earlier.
