Cigna Posts Profit as Membership Dips
- Share via
Cigna Corp. said it swung to a profit in the third quarter, but the employee benefits provider said membership in its medical plans continued to decline. Its share price surged nearly 19%.
Cigna beat analysts’ expectations by reporting net income of $195 million, or $1.39 a share, contrasted with a net loss of $877 million, or $6.27, a year earlier. Revenue dropped 6.1% to $4.77 billion.
The earnings beat the $1.17 expected by analysts surveyed by Thomson First Call.
Cigna shares climbed $9.08 to $57.05 on the New York Stock Exchange.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
