BLOOMFIELD, Conn. (AP) - Cigna Corp. on Thursday reported second quarter net income of $1.41 billion.
The Bloomfield, Connecticut-based company said it had net income of $3.70 per share. Earnings, adjusted for one-time gains and costs, came to $4.30 per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $3.73 per share.
The health insurer posted revenue of $38.82 billion in the period. Its adjusted revenue was $34.38 billion, which also beat Street forecasts. Six analysts surveyed by Zacks expected $33.39 billion.
Cigna expects full-year earnings in the range of $16.60 to $16.90 per share.
Cigna shares have dropped 11% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 19%. The stock has decreased slightly more than 5% in the last 12 months.
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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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