Cigna Corp (CI) Shares Rally After Raising Profit Outlook

Cigna Corp. (NYSE: CI) shares jumped 3.6% Thursday after the company reported earnings for its latest quarter, topping profit and revenue expectations.

The healthcare and insurance company reported second-quarter EPS of $6.22, $0.73 better than estimates of $5.49. Revenue for the quarter came in at $45.5 billion, also beating consensus estimates of $44.49 billion.

"Our focus on our customers, patients and clients continues to resonate in the market as our strong results and positive momentum reinforce the value we are delivering," said David Cordani, chairman and chief executive officer of Cigna. "Evernorth and Cigna Healthcare continue driving our strong performance, and our focus on ongoing innovation positions us for sustained, differentiated growth."

The company raised its annual earnings estimate and now expects full-year adjusted earnings of around $22.90 per share, compared to the previous forecast of $22.60 per share. The new forecast was also above the consensus estimate of $22.72.

By Sam Boughedda

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