PHILADELPHIA (AP)--Cigna Corp. said Wednesday its first-quarter profit fell due to lower earnings in its health-care unit. However, the insurance company still managed to beat Wall Street's forecast.

For the quarter, net income totaled $352 million, or $2.87 per share from $436 million, or $3.28 per share, in the year-ago period that was boosted by a one-time gain.

Excluding realized investment gains, adjusted first-quarter income from operations was $258 million, or $2.11 per share, for the first quarter, versus $297 million, or $2.24 per share, for the same period last year.

The Philadelphia company's quarterly revenue fell almost 6 percent to $4.12 billion from $4.35 billion a year earlier.

Analysts surveyed by Thomson First Call forecast, on average, adjusted earnings per share of $1.89 on revenue of $4.1 billion.

Cigna's health-care unit posted a drop in revenue to $156 million from $191 million a year ago. Adjusted for items, earnings at the unit fell 24%, while total membership was essentially flat.

The year-ago results included a gain of $169 million investment gain, a $33 million restructuring charge and an $8 million charge related to the sale of Cigna's retirement business.

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