Cigna Corporation (CI) has reported a 15.22 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $598 million, or $2.30 a share in the quarter, compared with $519 million, or $2 a share for the same period last year. On the other hand, adjusted net income from Operations for the quarter stood at $719 million, or $2.77 a share compared with $601 million or $2.32 a share, a year ago.
Revenue during the quarter grew 5.07 percent to $10,385 million from $9,884 million in the previous year period. Net premium earned for the quarter increased 4.61 percent or $357 million to $8,103 million.
For the fiscal year 2017, Cigna Corporation projects adjusted net income from Operations to be in the range of $2,410 million to $2,530 million. It projects diluted earnings per share to be in the range of $9.25 to $9.75 on adjusted basis for the same period.
Net investment income was at $303 million for the quarter, up 11.40 percent or $31 million from year-ago period. Meanwhile, income from fees and commission for the quarter moved up marginally by 2.03 percent or $23 million to $1,156 million. The company has recorded a gain on investments of $46 million in the quarter compared with a loss of $32 million for the previous year period.
"Cigna's strong first quarter performance reflects the value we are delivering to our customers and clients through affordable, high-quality and personalized solutions" said David M. Cordani, president and chief executive officer. "We expect continued positive momentum and growth across targeted customer segments, fueled by ongoing investments in innovative products and services."
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