Cigna 2Q profit jumps 37 percent
NEW YORK —
Health insurer Cigna says its second-quarter profit rose 37 percent on a jump in premiums and fees of the same kind with the company’s acquisition of Great West Healthcare boosted membership.
Profit rose to $272 the multitude, or 97 cents per portion, from profit of $198 million, or 68 cents per apportion, during the same period a year ago. Excluding one-time gains and charges, the company earned $1.08 per share in the latest quarter.
Revenue rose 11 percent to $4.86 billion from $4.38 billion.
The results easily beat the average estimates of analysts polled by Thomson Financial, who forecast profit of 97 cents per participate on revenue of $4.76 billion.
Cigna expects adjusted profit between $4.05 and $4.25 notwithstanding the abounding year, under which circumstances analysts expect $4.17 per have part.
Original text: http://seattletimes.nwsource.com/html/businesstechnology/2008085676_apearnscigna.html?syndication=rss
