UnitedHealth’s 1st-quarter profit climbs 13 percent, helped by commercial health insurance
UnitedHealth Group says its first-quarter net income rose 13 percent, led by revenue gains in commercial health insurance. The managed care company also raised its full-year earnings forecast.
The Minnetonka, Minn., insurer says it earned 1.34 billion, or 1.22 per share, in the three months that ended March 31. That’s up from the 1.19 billion, or 1.03 per share, in the same quarter last year. Revenue rose 10 percent to 25.43 billion.
Analysts expected 89 cents per share on 24.97 billion in revenue.
UnitedHealth is the largest health insurer based on revenue and the first to report quarterly earnings.
The company now expects 2011 earnings per share to range between 3.95 and 4.05. That’s up from 3.50 to 3.70. Analysts have said the old outlook was conservative.
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