UnitedHealth 3Q Earnings Grow on Higher Revenue

By Matt Grossman

UnitedHealth Group Inc. Thursday posted revenue and profit growth for the third quarter as its membership roles expanded.

The Minnetonka, Minn.-based health insurer logged earnings attributable to stockholders of $4.28 a share, a rise from $3.30 a share in last year's third quarter. Total earnings attributable to shareholders were $4.09 billion, up from $3.17 billion a year earlier.

Stripping out one-time items, UnitedHealth's adjusted earnings were $4.52 a share. Analysts surveyed by FactSet had been forecasting adjusted earnings of $4.41 a share.

Revenue rose to $72.34 billion, up from $65.12 billion in last year's third quarter. Analysts were anticipating revenue of $71.35 billion.

Premiums rose to $56.97 billion from $50.86 billion a year earlier.

Revenue from the UnitedHealthcare insurance division grew as more customers joined. People served is up by 2 million since the end of last year, the company said.

The Optum health-services business saw revenue rise by 14%. The recovery in healthcare behavior continued, with prescriptions handled by OptumRx rising 6% as more people returned to their doctors' offices compared with earlier in the pandemic, UnitedHealth said.

Write to Matt Grossman at [e-mail]

(END) Dow Jones Newswires

October 14, 2021 06:29 ET (10:29 GMT)

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