Cigna reports strong fourth quarter, shrugs off potential impact of drug rebate rule proposal
February 01, 2019 / Tina Reed
Insurance giant Cigna posted strong year-end results following its merger with Express Scripts. Cigna pulled in $49 billion in revenue for the year, a 15% increase over 2017. Its income from operations was $3.6 billion or $14.22 a share, up more than 30% over $2.7 billion, or $8.77 a share, in 2017. While the year-end results did not meet analysts expectations, Cigna reported a strong fourth quarter with $14.3 billion in revenue for the quarter ending Dec. 31, up more than 35% compared to revenue of $10.6 billion in the same quarter of 2017. The insurer reported earnings of $647 million, or $2.46 a share in the fourth quarter, up 33% from $483 million, or $1.83 a share in the fourth quarter of 2017. Revenue, customer, and earnings growth were driven by continued innovation across the business, said David Cordani, president and chief executive officer, in a statement.