Humana Inc. /zigman2/quotes/203095337/composite HUM +0.48% reported Tuesday third-quarter profit and revenue that beat expectations and raised its full-year outlook for Medicare Advantage membership growth. The health care company's stock was still inactive in premarket trading. Net income rose to $1.76 billion, or $10.05 a share, from $888 million, or $5.14 a share, in the year-ago period. Excluding non-recurring items, such as changes in market value of publicly traded securities and the receipt of commercial risk corridor receivables previously written off, adjusted earnings per share fell to $3.08 from $5.03, but beat the FactSet consensus of $2.81. Revenue rose 23.6% to $20.08 billion, or grew 15.9% to $18.82 billion on an adjusted basis. The FactSet consensus was for revenue of $18.62 billion. The company boosted its 2020 guidance for Medicare Advantage membership growth to about 375,000 from 330,000 to 360,000. "We continue to see more Medicare beneficiaries choosing Medicare Advantage (MA) plans over Medicare-Fee-For-Service due to MA's ever-increasing value proposition," said Chief Executive Bruce Broussard. "What's driving this strong value is the fact that plans must constantly innovate to stay competitive as Medicare beneficiaries have the freedom to choose a plan that's affordable for them and that suits their lifestyle needs." Humana's stock has climbed 11.5% year to date, while the SPDR Health Care Select Sector ETF /zigman2/quotes/205918244/composite XLV +0.90% has edged up 1.6% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.22% has tacked on 2.5%.