UnitedHealth Posts Upbeat Q1 Results, Lifts Earnings Outlook

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Shares of
UnitedHealth Group Inc.
UNH
surged around 4 percent in pre-market trading after the company reported better-than-expected results for the first quarter. The Minnetonka, Minnesota-based company posted a quarterly profit of $1.41 billion, or $1.46 per share, versus a year-ago profit of $1.10 billion, or $1.10 per share. Its revenue climbed around 13 percent to $35.76 billion. However, analysts were expecting a profit of $1.35 per share on revenue of $34.63 billion. UnitedHealthcare's revenue for the quarter climbed 12 percent y/y to $32.6 billion, while UnitedHealthcare Medicare & Retirement revenue rose 11 percent to $12.8 billion. UnitedHealthcare Community & State revenue jumped 33 percent to $6.9 billion, while UnitedHealthcare Global's revenue slipped 7 percent to $1.5 billion. Optum's revenue for the first quarter gained 15 percent to $12.8 billion. The company repurchased $900 million in stock during the first quarter. The average estimate among 16 Estimize users was for earnings of $1.34 per share and revenue of $34.7 billion. "We are working to create more effective and more modern approaches to accessing and delivering health care. We are gratified with the market response to our efforts, providing us opportunities to serve more people, in more ways," said Stephen J. Hemsley, chief executive officer of UnitedHealth Group. UnitedHealth projects FY15 earnings of $6.15 to $6.30 per share, on revenue of about $143 billion. The company had earlier expected earnings of $6.00 to $6.25 per share. The company also lifted its 2015 outlook for cash flows from operations to $8.2 billion to $8.4 billion. UnitedHealth shares jumped 3.99 percent to $122.00 in pre-market trading.
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Posted In: EarningsNewsGuidanceprofit
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