Courtesy of Benzinga.
Cigna (NYSE: CI) reported better-than-expected second-quarter profit on Thursday.
The Bloomfield, Connecticut-based company posted quarterly net income of $573 million, or $2.12 per share, versus $505 million, or $1.76 per share, in the year-ago period. Its adjusted income from operations surged to $530 million, or $1.96 per share, beating analysts’ estimates of $1.84 per share.
Its revenue surged 9% to $8.7 billion, versus estimates of $7.61 billion.
Premiums and fees from Global Health Care rose around 8% in the quarter, premiums and fees from Global Supplemental Benefits climbed 18%. Premium and fees from Group Disability and Life surged 5%.
“Our sustained growth in a dynamic marketplace is driven by our commitment to innovation and our differentiated capabilities for the benefit of our customers and clients around the world,” said David M. Cordani, President and Chief Executive Officer.
Cigna now expects 2014 consolidated adjusted income from operations of $7.20 to $7.40 per share.
Cigna shares rose 1.01% to $94.44 in pre-market trading.
