UnitedHealth Raises Profit Outlook on Strong Quarter
October 16 2018 - 7:03AM
Dow Jones News
By Kimberly Chin
UnitedHealth Group Inc. has raised its full-year earnings
outlook as the company continued to see growth in health-care plan
membership and premiums.
UnitedHealth expects to earn $12.80 a share on an adjusted basis
this year, compared with the range of $12.50 to $12.75 a share it
previously guided.
The parent of the nation's largest health insurer said net
income in the third quarter rose 28% from a year earlier to $3.19
billion, or $3.24 a share. On an adjusted basis, UnitedHealth's
profit rose to $3.41 a share. Analysts polled by Refinitiv expected
the company to earn $3.29 a share.
Revenue rose 12% to $56.56 billion, as analysts had expected
$56.34 billion. Revenue from its UnitedHealthcare segment grew 13%
while sales from its Optum segment grew 11%.
Shares in UnitedHealth, which have gained 18% this year, rose
2.4% to $266.40 in premarket trading.
(END) Dow Jones Newswires
October 16, 2018 06:48 ET (10:48 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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