UnitedHealth posts $6.38 earnings per share
UnitedHealth Group reported adjusted earnings of $6.38 a share on revenue of $112.0 billion, beating analyst expectations of $4.90 a share on $110.85 billion.
The company’s net income reached $5.48 billion, up from $3.41 billion a year earlier, with operating earnings rising 55% to $8.0 billion.
UnitedHealth’s management raised full-year adjusted earnings guidance to a range of $19.50 to $20.00 a share, up from a prior view of more than $18.25, and maintains revenue guidance above $439 billion.
The medical care ratio drove the quarter, showing how much of every premium dollar goes towards medical costs, with the company reporting $11.1 billion in cash flows from operations, or 1.9 times net income.