Cigna beats quarterly profit estimates on health services strength

Cigna's Q3 results beat Wall Street expectations, driven by Evernorth's 15% revenue growth. The pharmacy benefit manager's strong performance, particularly from Accredo, and focus on private employer clients, set Cigna apart from competitors. Despite a higher medical care ratio due to increased stop-loss insurance costs, Cigna's earnings per share topped estimates. The company's plan to end prescription drug rebates in some health plans by 2027 has investors watching closely, but today's earnings demonstrate Cigna's successful strategy in a complex healthcare landscape.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.