UPDATE: Cigna Posts 10% Drop In Q1 Earnings, Raises Full-Year Forecast

Cigna Corp CI reported a 10% drop in its first-quarter earnings. It lifted its full-year earnings forecast to $5.20 to $5.55 per share, versus its earlier forecast of $5 to $5.40 per share. Cigna's quarterly profit fell to $371 million, or $1.28 per share, from $413 million, or $1.51 per share, in the year-ago period. Excluding some items, Cigna's adjusted earnings came in at $1.24 per share. Its revenue climbed 25% to $6.79 billion. Analysts were expecting earnings of $1.30 per share on revenue of $6.71 billion. Total medical membership gained 11% to 13.9 million from 12.5 million. Cigna shares closed at $46.55 yesterday.