UnitedHealth Group (NYSE: UNH), the managed healthcare company announced its Q3 results with revenues of $80.9 billion, up 12% year-over-year and surpassing analysts' estimates by $360 million. The company's adjusted earnings came in at $5.79 per share, an increase of 28% year-over-year and exceeding the Street's expectations of $5.43 per share. UnitedHealth's growth in the third quarter " was driven by continued expansion in the number of people served throughout UnitedHealthcare and in the value-based care initiatives at Optum Health." The strong Q3 results also prompted UNH to raise its FY22 net earnings outlook to range from $20.85 to $21.
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