Cigna 2Q Profit, Revenue Rise on Deferred Medical Care
July 30 2020 - 6:48AM
Dow Jones News
By Dave Sebastian
Cigna Corp. booked higher profit and revenue for the second
quarter, reflecting lower medical costs from deferred care due to
the Covid-19 pandemic.
The Bloomfield, Conn.-based health-care company posted net
income of $1.75 billion, or $4.73 a share, compared with $1.41
billion, or $3.70 a share, in the year-ago period. Adjusted
earnings were $5.81 a share.
Analysts polled by FactSet were expecting earnings of $4.30 a
share, or $5.15 a share on an adjusted basis.
Revenue grew 1.2% to $39.27 billion. Analysts were looking for
$37.87 billion. Adjusted revenue was $39.2 billion.
The company's customer base fell by 62,000 customers to 17.1
million for the quarter, it said.
Cigna continues to expect 2020 adjusted earnings of $18 a share
to $18.60 a share on adjusted revenues of $154 billion to $156
billion.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
July 30, 2020 06:33 ET (10:33 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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