Cigna tops 3Q profit expectations, misses revenue forecasts

MarketsAssociated Press

Cigna Corp. (CI) on Thursday reported third-quarter earnings of $534 million.

The Bloomfield, Connecticut-based company said it had profit of $2.01 per share. Earnings, adjusted for investment gains, were $1.95 per share.

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The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.81 per share.

The health insurer posted revenue of $8.09 billion in the period, which did not meet Street forecasts. Analysts expected $8.34 billion, according to Zacks.

Cigna expects full-year earnings in the range of $7.25 to $7.45 per share.

Cigna shares have risen 7.5 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 7 percent. The stock has increased 27 percent in the last 12 months.

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This story was generated by Automated Insights (http://www.automatedinsights.com/ap ) using data from Zacks Investment Research. CI stock research report from Zacks: (http://www.zacks.com/ap/CI ).

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