Friday, August 1, 2008 - Page updated at 03:55 AM
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Cigna 2Q profit jumps 37 percent
Health insurer Cigna says its second-quarter profit rose 37 percent on a jump in premiums and fees as the company's acquisition of Great West Healthcare boosted membership.
Health insurer Cigna says its second-quarter profit rose 37 percent on a jump in premiums and fees as the company's acquisition of Great West Healthcare boosted membership.
Profit rose to $272 million, or 97 cents per share, from profit of $198 million, or 68 cents per share, 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 share on revenue of $4.76 billion.
Cigna expects adjusted profit between $4.05 and $4.25 for the full year, while analysts expect $4.17 per share.
Copyright © 2008 The Seattle Times Company
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UPDATE - 08:03 AM
Service sector shrinks less than expected in June
Tech execs double as scourges and sages at Allen & Co.'s media summit
UPDATE - 08:14 AM
Stocks slide on conflicting signs about economy
UPDATE - 08:22 AM
Bankruptcy judge OKs GM sale plan, appeal looms
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