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Representatives speak with customers at a UnitedHealthcare location in Queens, brand-new York.
U.S. health insurer UnitedHealth on Tuesday posted a quarterly profit in which beat analysts’ estimates in addition to also raised its adjusted earnings target for the year, driven by strength in its Optum unit as well as a rise in memberships for its health plans.
The largest U.S. health insurer raised its full year adjusted earnings forecast to between $14.50 in addition to also $14.75 per share through its prior view of $14.40 to $14.70.
The company’s Optum unit, which includes its pharmacy benefit management business, brought in sales of $26.36 billion within the quarter, a jump of nearly 12 percent through a year earlier.
Net earnings attributable to shareholders rose 22.2 percent to $3.47 billion, or $3.56 per share, within the first quarter ended March 31.
UnitedHealth reported adjusted earnings of $3.73 per share, beating estimates of $3.60 per share, according to IBES data through Refinitiv.
Total revenue rose 9.3 percent to $60.31 billion, ahead of estimates of $59.7 billion.