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Kaiser Permanente earns $634M in Q3 profits
Kaiser Permanente's third-quarter profits soared 11.4 percent to $634 million and its quarterly revenue jumped 5.7 percent to $11.1 billion. Enrollment also increased by 59,000, bringing total customers to about 8.6 million, according to KFMB-TV.
Operating income for the quarter totaled $366 million, up nearly 9 percent from last year's $336 million. Net non-operating income of $268 million jumped 15 percent from 2009’s third-quarter total of $233 million, reflecting Wall Street's recent hot streak. That left net income of $634 million, compared to $569 million a year earlier, the San Francisco Business Times reports.
For the nine months ending September 30, 2010, total operating revenue was $33.1 billion, compared to $31.6 billion for the same period in 2009. Year-to-date operating income was $1.2 billion, compared to $1.4 billion for the same period in 2009. Net non-operating income totaled $584 million in the first nine months of the year, compared to $248 million in the same period last year. Year-to-date net income was approximately $1.7 billion, compared to $1.6 billion for the same period in 2009.
Capital spending for the first nine months of 2010 was approximately $1.7 billion, which was consistent with the same period last year, according to the Bradenton Herald.
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Kaiser posts net loss of $794 million for 2008
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