Beating analysts’ expectations, Cigna reported strong profits of $1.2 billion and revenues of $45.8 billion for the fourth quarter of 2022. Both profits and revenues were up from the prior year quarter in which Cigna reported profits of $1.1 billion and revenues of $45.7 in revenues.
For the full year of 2022, Cigna likewise reported increased profits and revenues over 2021. It earned $6.7 billion in profits, up from $5.4 billion in 2021, and $180.5 billion in revenues, up from $174.1 billion in 2021.
Cigna’s Medical membership also increased to 18 million in 2022.
As a result of its strong earnings, Cigna increased its quarterly dividend by 10% to $1.23 a share.