Humana Inc. /zigman2/quotes/203095337/composite HUM +0.48% reported Wednesday first-quarter profit and revenue that beat expectations, and affirmed its full-year earnings outlook while raising its Medicare Advantage (MA) membership guidance. The health Care company said net income fell to $717 million, or $3.56 a share, from $746 million, or $4.16 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share came to $5.40, above the FactSet consensus of $4.66. Revenue rose to $18.94 billion from $16.11 billion, topping the FactSet consensus of $18.46 billion. While the impact of the COVID-19 pandemic was "not material" to first-quarter results, the company started experiencing lower hospital admissions and utilization in the second half of March, a trend which has continued in the second quarter. Humana affirmed its 2020 adjusted EPS guidance range of $18.25 to $18.75 but raised its MA membership growth estimate to a range of 300,000 to 350,000 members from 270,000 to 330,000. The stock, which was still inactive in premarket trading, has gained 3.2% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.22% has lost 12.5%.