UPDATE: Cigna Posts Higher Q3 Profit, Lifts Full-Year Forecast

Cigna

reported a 19% rise in its third-quarter earnings and lifted its full-year earnings outlook. Cigna now expects full-year profit of $6.70 to $6.90 per share, versus its August forecast of $6.25 to $6.65 per share. Cigna's quarterly profit surged to $553 million, or $1.95 per share, from a year-ago profit of $466 million, or $1.61 per share. Excluding one-time items, its adjusted earnings from operations came in at $1.89 per share. Its operating revenue rose 9.3% to $8.04 billion, while total revenue climbed 10% to $8.07 billion. However, analysts were expecting earnings of $1.63 per share on revenue of $7.24 billion. Cigna shares closed at $74.64 yesterday.