Cigna raises annual profit forecast on strength in health services unit
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IN SHORT
Several companies have announced positive financial results, exceeding expectations and raising forecasts. Cigna boosted its annual profit outlook due to strong performance in its Evernorth Health Services unit. Reddit anticipates third-quarter revenue above estimates, attributing the growth to its AI-powered advertising tools. Rivian Automotive surpassed revenue expectations and increased its delivery forecast, citing optimism around its R2 SUV and growth in software services. MGM Resorts also beat quarterly revenue estimates, primarily driven by a robust performance in its Las Vegas operations, which saw a 3% sales increase.
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Key Numbers
3%increase in sales from MGM Las Vegas Strip resorts
Who's Involved
Cigna
company that raised its annual profit forecast
Evernorth Health Services
Cigna's health services unit driving growth
Reddit
social media platform forecasting revenue above estimates
Rivian Automotive
automaker that beat revenue estimates and raised delivery forecast
MGM Resorts International
company that beat quarterly revenue estimates
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Key facts
Cigna raised its annual profit forecast.
Cigna's Evernorth Health Services unit includes pharmacy benefit management and specialty pharmacy businesses.
Reddit expects third-quarter revenue to exceed Wall Street estimates.
Reddit's AI-powered advertising tools are attracting new advertisers.
Rivian cited strong customer interest in its new R2 SUV.
MGM Resorts International reported second-quarter revenue surpassing analyst expectations.
MGM Resorts' Las Vegas operations showed a strong performance.
Sales from MGM Resorts' Las Vegas Strip resorts increased by 3%.
Cigna has raised its annual profit forecast, reporting that its Evernorth Health Services unit, which encompasses its pharmacy benefit management and specialty pharmacy businesses, is experiencing significant growth. The company exceeded quarterly earnings estimates and achieved overall revenue growth.
Reddit forecasts that its third-quarter revenue will surpass Wall Street estimates. This projection is fueled by the success of its AI-powered advertising tools, which have successfully attracted new advertisers to the platform. The social media company reported strong revenue growth in the second quarter and anticipates robust adjusted EBITDA.
Rivian Automotive has reported quarterly revenue that exceeded estimates and has consequently raised its full-year delivery forecast. This upward revision is attributed to strong customer interest in its upcoming R2 SUV, as well as growth within its software and services business.
MGM Resorts International announced second-quarter revenue figures that surpassed analyst expectations. The primary driver for this outperformance was a strong performance in its Las Vegas operations, with sales from its Las Vegas Strip resorts increasing by 3%.
↳ Why This Matters
Cigna has raised its annual profit forecast, reporting that its Evernorth Health Services unit, which encompasses its pharmacy benefit management and specialty pharmacy businesses, is experiencing significant growth. The company exceeded quarterly earnings estimates and achieved overall revenue growth.
Frequently asked questions
Cigna raised its 2026 adjusted profit forecast by 10 cents to at least $30.45 per share.
The Evernorth Health Services unit, which includes pharmacy benefit management and specialty pharmacy, drove the growth.
Cigna's medical loss ratio for the second quarter was 84.5%.
What Happens Next
01Cigna will continue to focus on its employer-sponsored healthcare business and pharmacy benefits unit.
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