By Dave Sebastian

Cigna Corp. said its profit and revenue for the third quarter rose as elective care picked up after being deferred due to the Covid-19 pandemic.

The Bloomfield, Conn.-based health-care company Thursday posted net income of $1.39 billion, or $3.78 a share, compared with $1.35 billion, or $3.57 a share, in the year-earlier period. Adjusted earnings were $4.41 a share.

Analysts polled by FactSet had been expecting earnings of $3.25 a share, or $4.24 a share on an adjusted basis.

Revenue grew 6.22% to $40.96 billion. Analysts had been looking for $39.15 billion. Adjusted revenue was $40.8 billion.

Cigna said it expects 2020 adjusted earnings from operations of $18.30 to $18.60 a share on adjusted revenue of $158 billion. It previously targeted adjusted earnings from operations of $18 to $18.60 a share on adjusted revenue of $154 billion to $156 billion.

Write to Dave Sebastian at dave.sebastian@wsj.com

 

(END) Dow Jones Newswires

November 05, 2020 06:43 ET (11:43 GMT)

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