Cigna Corp. (NYSE: CI) reported its first-quarter financial results before the markets opened on Friday. The company posted $2.32 in earnings per share (EPS) on $9.92 billion in revenue. That compared to consensus estimates from Thomson Reuters of $2.15 in EPS on revenue of $10.00 billion. In the same period of last year, Cigna reported EPS of $1.96 and $9.39 billion in revenue.

In terms of guidance for the full year, Cigna expects to have EPS in the range of $8.95 to $9.35 and revenues growing in the mid-single digit percentage. The consensus estimates call for $9.18 in EPS on $40.08 billion in revenue.

On the books, cash and marketable investments totaled $2 billion at the end of the quarter, compared to $1.4 billion at the end of 2015.

The company reported its revenue streams for the first quarter as follows:

• Premiums had revenues of $7.75 billion.
• Fees had revenues of $1.13 billion.
• Net Investment Income had revenues of $272 billion.
• Mail Order Pharmacy revenues had $697 million.
• Other revenues totaled $68 million.

David M. Cordani, president and CEO of Cigna, commented:

Our strong first quarter results reflect the continued focused execution of Cigna’s global strategy. Cigna’s ability to deliver quality outcomes and affordability reflects the value Cigna delivers to our customers and clients while continuing to position for success in our combination with Anthem.

Shares of Cigna traded down more than 3% to $130.65 Friday morning, with a consensus analyst price target of $169.58 and a 52-week trading range of $123.54 to $170.68.

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