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Cigna Boosts Forecast as Q3 Earnings Blow Away Expectations (CI)

Health benefits provider Cigna Corp. ( CI ) on Thursday posted a sharp uptick in third quarter earnings, easily beating Wall Street forecasts, and lifted its full-year outlook.

The Bloomfield, CT-based company reported third quarter net income of $466 million, or $1.61 per share, compared with $183 million, or 67 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was $1.69 per share.

Revenue surged 31% from last year to $7.36 billion.

On average, Wall Street analysts expected a much smaller profit of $1.36 per share, on much lower revenue of $6.63 billion.

Looking ahead, CI boosted its full-year earnings outlook to a range of $5.70 to $5.90 per share, up from a prior forecast of $5.25 to $5.60. Analysts are currently looking for $5.54 per share for the year.

Cigna shares rose 50 cents, or +1%, in premarket trading Thursday.

The Bottom Line

Cigna Corp. ( CI ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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