Cigna Posts Profit as Membership Dips

Cigna Corp. said it swung to a profit in the third quarter, but the employee benefits provider said membership in its medical plans continued to decline. Its share price surged nearly 19%.

Cigna beat analysts’ expectations by reporting net income of $195 million, or $1.39 a share, contrasted with a net loss of $877 million, or $6.27, a year earlier. Revenue dropped 6.1% to $4.77 billion.

The earnings beat the $1.17 expected by analysts surveyed by Thomson First Call.

Cigna shares climbed $9.08 to $57.05 on the New York Stock Exchange.