Q2 Earnings: Regeneron and Cigna Outperform Expectations
- August 03rd, 2023
- 367 views
Shares of Regeneron Pharmaceuticals, Inc. (Nasdaq: REGN) surged over 5% in pre-market trading following an impressive second quarter 2023 earnings report. The company exceeded expectations, reporting adjusted earnings per share (EPS) of $10.24 and revenues of $3.16 billion, surpassing the consensus estimates of $9.84 on revenues of $3.01 billion.
In pre-market, $REGN was trading at $778.10, reflecting a gain of $45.98 (+6.28%).
In a separate development, The Cigna Group (NYSE: CI) unveiled its Q2 2023 financial results, with adjusted EPS of $6.13 and revenues of $48.62 billion, outperforming the consensus estimate of $6.02 on revenue of $47.31 billion.
Looking ahead, the company provided an optimistic outlook for full-year 2023 adjusted EPS, targeting at least $24.70, surpassing the consensus projection of $24.69.
$CI was trading at $299.80 in pre-market, up $0.40 (+0.13%)
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