What drove Cigna Group's recent revenue increase?

Cigna Group's revenue increased by 10% primarily due to the strong performance of its Evernorth Health Services business.

How did Cigna Group's profit change compared to last year?

The company's profit decreased to $1.2 billion from $1.4 billion in the same quarter last year.

What is Evernorth Health Services?

Evernorth Health Services is Cigna Group's division that includes pharmacy benefit services and specialty and care services.

Home / Business and Economy / Cigna Revenue Surges 10% on Evernorth Strength

Cigna Revenue Surges 10% on Evernorth Strength

5 Feb

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Summary

Cigna's revenue climbed 10% to $72.47 billion.
Evernorth Health Services was the primary growth driver.
Profit decreased year-over-year to $1.2 billion.

Cigna Revenue Surges 10% on Evernorth Strength

Cigna Group's latest financial report revealed a significant 10% surge in revenue, reaching $72.47 billion. This impressive financial performance surpassed analyst expectations and was primarily fueled by the robust growth of its Evernorth Health Services division, which encompasses pharmacy benefit services and specialty care. Adjusted revenue within Evernorth saw a substantial 17% increase.

While revenue soared, Cigna Group's profit for the quarter was $1.2 billion, a decrease from the previous year's $1.4 billion. The company posted adjusted earnings per share of $8.08, exceeding the $7.88 estimate. This growth was partially tempered by a 16% decline in adjusted revenue for Cigna's core healthcare segment, which provides medical plans and benefits.

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