: Cigna stock bounces of 11-month low after profit and revenue beat expectations, outlook raised


Shares of Cigna Group CI gained 0.5% in premarket trading Friday, to bounce off the previous session’s 11-month closing low, after the health insurer beat profit and revenue expectations and raised its full-year outlook, even as total customer relationships fell. Net income rose to $1.27 billion, or $4.24 a share, from $1.20 billion, or $3.73 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $5.41 beat the FactSet consensus of $5.26. Revenue grew 5.7% to $46.52 billion, above the FactSet consensus of $45.59 billion, as pharmacy revenue increased 4.7% to $32.14 billion to top…

This article was originally published by Marketwatch.com. Read the original article here.

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