Cigna Tops 1Q Profit Forecasts
BLOOMFIELD, Conn. (AP) _ Cigna Corp. (CI) on Friday reported first-quarter earnings of $598 million.
On a per-share basis, the Bloomfield, Connecticut-based company said it had profit of $2.30. Earnings, adjusted for non-recurring costs, were $2.77 per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $2.44 per share.
The health insurer posted revenue of $10.4 million in the period. Its adjusted revenue was $10.3 million, which fell short of Street forecasts. Eight analysts surveyed by Zacks expected $9.94 billion.
Cigna expects full-year earnings in the range of $9.25 to $9.75 per share.
Cigna shares have risen 17 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed nearly 7 percent. The stock has risen 16 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CI at https://www.zacks.com/ap/CI
Keywords: Cigna, Earnings Report
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