Cigna Corp., (NYSE: CI) reported Thursday that its first-quarter profit climbed 52% to $429 million, or $1.57 a share, from $283 million, or $1.02, in the year-ago quarter. On an adjusted basis, the company earned $1.37 a share in the latest quarter. Revenue rose 4% to $5.41 billion from $5.21 billion. Analysts, on average, expected the company to report earnings of $1.09 a share on revenue of $5.49 billion.
"Our first quarter results represent a strong start towards achieving our full year 2011 goals, with good revenue growth and strong earnings contributions from each of our ongoing businesses," said David M. Cordani, President and Chief Executive Officer of CIGNA Corporation. "These results reflect continued effective execution of our strategy for the benefit of our customers, health care partners and shareholders."
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