WASHINGTON (dpa-AFX) - Aflac Inc. (AFL) reported that its third-quarter net earnings were $1.02 billion or $2.16 per share, compared to $736 million, or $1.57 per share in the year-ago quarter.
Operating earnings for the quarter rose to $831 million or $1.77 per share from $770 million or $1.65 per share in the comparable quarter last year. On average, nineteen analysts polled by Thomson Reuters expected the company to report earnings of $1.66 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues rose 14.4% to $6.85 billion from $5.99 billion in the third quarter of 2011, while eight analysts expected revenue of $6.51 billion for the quarter.
The company said that its board approved a 6.1% increase in the cash dividend effective with the fourth quarter 2012 payment. The fourth quarter dividend of $0.35 per share is payable on December 3, 2012, to shareholders of record at the close of business on November 14, 2012.
The company said if the yen averages 80 for the full, year it's likely operating earnings per share will be $6.58 to $6.63 for the year, up from its prior estimate of $6.45 to $6.52 per share.
Analysts currently expect earnings of $6.54 per share for the full year.
Using that same exchange rate assumption, the company would expect fourth quarter operating earnings to be $1.46 to $1.51 per share. Analysts now expect fourth quarter earnings of $1.53 per share.
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