Cigna: 2Q Earnings Snapshot
BLOOMFIELD, Conn. (AP) _ Cigna Corp. (CI) on Thursday reported second-quarter earnings of $806 million.
The Bloomfield, Connecticut-based company said it had net income of $3.29 per share. Earnings, adjusted for non-recurring costs and amortization costs, were $3.89 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $3.33 per share.
The health insurer posted revenue of $11.48 billion in the period. Its adjusted revenue was $11.5 billion, also topping Street forecasts. Eight analysts surveyed by Zacks expected $11.09 billion.
Cigna expects full-year earnings in the range of $13.60 to $13.90 per share.
Cigna shares have declined nearly 10 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 5 percent. The stock has climbed nearly 6 percent in the last 12 months.