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UnitedHealth's 3Q profit edged up 1 percent

October 17, 2013
Associated Press

UnitedHealth Group says its third-quarter earnings inched up 1 percent, as enrollment gains helped the nation's largest health insurer counter rising medical costs.

The Minnetonka, Minnesota, company also says it narrowed its 2013 earnings forecast. It now expects $5.40 to $5.50 per share. Analysts expect $5.52 per share.

UnitedHealth says it earned $1.57 billion, or $1.53 per share, in the latest quarter. That's up from $1.56 billion, or $1.50 per share, a year ago. Revenue jumped 12 percent to $30.62 billion.

Analysts expect earnings of $1.53 per share on $30.86 billion in revenue.

UnitedHealth is the largest health insurer based on revenue and enrollment. It the first health insurer to report earnings every quarter. Many see it as a bellwether for other insurers.

 
 

 

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