Friday, February 06, 2009
Cigna stock jumps after earnings beat expectations
Investors snapped up shares of Cigna Corp. Thursday after the managed care company reported fourth-quarter earnings that beat analyst expectations and offered a dose of reassurance... Philadelphia-based Cigna said it lost $209 million, or 77 cents per share, in the quarter compared with a profit of $263 million, or 93 cents per share, a year ago.
But the company also reported an adjusted profit — excluding one-time items — of 49 cents per share and said revenue increased 8 percent to $4.82 billion.
Analysts polled by Thomson Reuters expected, on average, a profit of 41 cents per share on $4.75 billion in revenue. They typically exclude one-time items from their estimates.
AP: Cigna stock jumps after earnings beat expectations
But the company also reported an adjusted profit — excluding one-time items — of 49 cents per share and said revenue increased 8 percent to $4.82 billion.
Analysts polled by Thomson Reuters expected, on average, a profit of 41 cents per share on $4.75 billion in revenue. They typically exclude one-time items from their estimates.
AP: Cigna stock jumps after earnings beat expectations
Permalink posted by markw @ 5:37 AM 
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