UnitedHealth beats 3Q earnings forecast, hikes 2017 guidance

UnitedHealth beats 3Q earnings forecast, hikes 2017 guidance Photo: AP

October 17, 2017 06:54 AM

UnitedHealth Groups' third-quarter earnings soared 26 percent to beat Wall Street expectations as its growing Optum business segment once again helped the nation's largest health insurer.

The Minnetonka, Minnesota, company earned nearly $2.49 billion as revenue grew 9 percent to $50.32 billion. Adjusted earnings totaled $2.66 per share.

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FactSet says analysts had expected earnings of $2.56 per share on $50.35 billion in revenue.

Health insurance is UnitedHealth's main business. But it also has been reaping growth from its Optum segment, which operates doctor's offices and offers pharmacy benefits management.

UnitedHealth said Tuesday that it expects 2017 earnings to approach $10 per share. That's up from a forecast it made in July for between $9.75 and $9.90 per share

Analysts expect $9.86 per share.

Credits

By The Associated Press

(Copyright 2017 by The Associated Press. All Rights Reserved.)

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