Insurer UnitedHealth posts strong results, boosts forecast
UnitedHealth Group Inc (UNH.N), the largest U.S. health insurer, reported better-than-expected quarterly results, driven by strength
across its businesses, and raised its profit and revenue forecast for the year.
The company's shares were up 2.2 percent in premarket trading on Tuesday.
UnitedHealth, which has pulled out of nearly all Obamacare individual markets, is the first health insurer to report results after
Republican leaders yanked a legislation last month to overhaul the U.S. healthcare system.
The failure to repeal Obamacare, at least for now, means it remains a federal law. President Donald Trump and Republicans have
promised to repeal and replace the law.
UnitedHealth, which sells employer-based insurance as well as Medicare and Medicaid, said net earnings attributable to shareholders
rose to $2.17 billion, or $2.23 per share, in the first quarter ended March 31, from $1.61 billion, or $1.67 per share, a year earlier.
Excluding items, the company earned $2.37 per share, beating the average analyst estimate of $2.17, according to Thomson Reuters
Revenue rose 9.4 percent to $48.73 billion, above the average estimate of $48.35 billion.
Revenue from the company's Optum business, which manages drug benefits and offers healthcare data analytics services, rose 7.9
percent to $21.2 billion in the first quarter.
The company said it served 2.5 million more people year-over-year across its insurance plans, partially offset by a reduction of
900,000 people served through individual products as the company withdrew from almost all Obamacare markets.
UnitedHealth Group Inc (UNH.N), the largest U.S. health insurer, reported better-than-expected quarterly results, driven by strength
across its businesses, and raised its profit and revenue forecast for the year.
The company's shares were up 2.2 percent in premarket trading on Tuesday.
UnitedHealth, which has pulled out of nearly all Obamacare individual markets, is the first health insurer to report results after
Republican leaders yanked a legislation last month to overhaul the U.S. healthcare system.
The failure to repeal Obamacare, at least for now, means it remains a federal law. President Donald Trump and Republicans have
promised to repeal and replace the law.
UnitedHealth, which sells employer-based insurance as well as Medicare and Medicaid, said net earnings attributable to shareholders
rose to $2.17 billion, or $2.23 per share, in the first quarter ended March 31, from $1.61 billion, or $1.67 per share, a year earlier.
Excluding items, the company earned $2.37 per share, beating the average analyst estimate of $2.17, according to Thomson Reuters
I/B/E/S.
Revenue rose 9.4 percent to $48.73 billion, above the average estimate of $48.35 billion.
Revenue from the company's Optum business, which manages drug benefits and offers healthcare data analytics services, rose 7.9
percent to $21.2 billion in the first quarter.
The company said it served 2.5 million more people year-over-year across its insurance plans, partially offset by a reduction of
900,000 people served through individual products as the company withdrew from almost all Obamacare markets.
Source:-http://www.reuters.com/article/us-unitedhealth-results-idUSKBN17K10H
