Cigna Tops Street 2Q Forecasts
BLOOMFIELD, Conn. (AP) _ Cigna Corp. (CI) on Friday reported second-quarter profit of $813 million.
On a per-share basis, the Bloomfield, Connecticut-based company said it had profit of $3.15. Earnings, adjusted for one-time gains and costs, came to $2.91 per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.48 per share.
The health insurer posted revenue of $10.32 billion in the period. Its adjusted revenue was $10.27 billion, also topping Street forecasts. Seven analysts surveyed by Zacks expected $9.98 billion.
Cigna expects full-year earnings in the range of $9.75 to $10.05 per share.
Cigna shares have increased 32 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 10 percent. The stock has increased 41 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
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