UPDATE: Cigna Posts Upbeat Q1 Results, Lifts Full-Year Forecast

Cigna CI reported an 85% drop in its first-quarter earnings and lifted its full-year view. Cigna now expects full-year adjusted earnings from operations of $6 to $6.45 per share. Cigna's quarterly profit fell to $57 million, or $0.20 per share, from $371 million, or $1.28 per share, in the year-ago period. Excluding one-time items, its adjusted earnings from operations climbed to $1.72 per share from $1.24 per share. Its revenue rose 21% to $8.18 billion. However, analysts were expecting earnings of $1.43 per share on revenue of $7.43 billion. Cigna shares closed at $65.38 yesterday.