Cigna posts 2Q profit, results beat Wall Street estimates

MarketsAssociated Press

Cigna Corp. (CI) on Thursday reported second-quarter profit of $588 million.

On a per-share basis, the Bloomfield, Connecticut-based company said it had net income of $2.26. Earnings, adjusted for investment costs, were $2.55 per share.

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The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.26 per share.

The health insurer posted revenue of $9.47 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $9.34 billion.

Cigna shares have increased 41 percent since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 2 percent. The stock has risen 54 percent 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 http://www.zacks.com/ap/CI

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Keywords: Cigna, Earnings Report