Cigna Swings to Profit, Tops Estimates
Cigna, the health insurer, swung to a fourth-quarter profit of $330 million, or $1.19 a share, from a year-earlier loss and reaffirmed its earnings outlook for 2010.
PHILADELPHIA (
) --
Cigna
(CI) - Get Report
, the health insurer, swung to a fourth-quarter profit of $330 million, or $1.19 a share, from a year-earlier loss and reaffirmed its earnings outlook for 2010.
Cigna said on an adjusted basis earnings were $1.03 a share, above the estimates of analysts surveyed by Thomson Reuters of 95 cents.
Cigna said fourth-quarter revenue was $4.64 billion, down 3.8%.
Cigna continues to estimate 2010 adjusted earnings from operations of $3.75 to $4.15 a share.
-- Reported by Joseph Woelfel in New York.
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