Cigna Q2 profit up, costs low

August 1, 2013

The health insurer reported that Q2 profit grew 20% to $1.78, easily beating analyst projections of $1.60 per share. Cigna said medical costs were low during the quarter and revenue from health insurance and supplemental benefit plans such as dental and vision rose, as did revenue from disability and life insurance. Total revenue grew 19% to $7.98 bil, topping. Cigna (CI) sees '13 EPS of $6.25-$6.65, below views of $6.49. Shares fell 0.7% to 77.27.