Cigna Q1 Profit Pops 18%
Cigna Corporation (NYSE: CI) on an adjusted basis reported income from operations grew 17.2 percent to $601 million from $513 million, while earnings advanced 18.4 percent to $2.32 a share from $1.96 a share in the comparable period. This was higher than the Street estimations of $2.15 a share.
For the three-month period January to March, the company's top line grew 5.6 percent to $9.92 billion from $9.39 billion in the previous year quarter and missed the Street analysts' expectations of $10.0 billion.
The company's President and CEO, David Cordani, said, "Our strong first quarter results reflect the continued focused execution of Cigna's global strategy. Cigna's ability to deliver quality outcomes and affordability reflects the value Cigna delivers to our customers and clients while continuing to position for success in our combination with Anthem."
Going forward, Cigna expects its income from operations to be $8.95-$9.35 a share for the full year 2016. Analysts expect the company to earn $9.18 a share. The company expects to deliver mid-single digit revenue growth for the same period.
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