Cigna Posts Street-Topping Earnings

Cigna's second-quarter earnings rose nearly 3 percent, beating estimates as the health insurer predicted last week when it announced a plan to combine with bigger rival Anthem in a $48 billion deal.

The Bloomfield, Connecticut-based company says it earned $588 million in the quarter that ended June 30, up from $573 million in the previous year's quarter.

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

The health insurer posted revenue of $9.47 billion in the period, also beating Street forecasts.

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.

Copyright AP - Associated Press
Contact Us