UnitedHealth Group is reporting a 16% profit jump in the fourth quarter as the nation’s biggest health insurer ended 2019 by topping quarterly earnings expectations again
UnitedHealth Group’s net income jumped 16% in the fourth quarter as the nation’s biggest health insurer ended 2019 by topping Wall Street earnings expectations again.
The company missed forecasts for revenue, and its share slipped in early morning trading.
UnitedHealth on Wednesday also reaffirmed profit expectations for 2020, first laid out last month, for adjusted earnings of between $16.25 and $16.55 per share.
Analysts expect per-share profits of $16.46 this year, according to FactSet.
The Minnetonka, Minnesota, company earned $3.54 billion in the final quarter of 2019, with adjusted results totaling $3.90 per share. Analysts expected $3.78 per share, according to FactSet.
Revenue climbed 4 percent to $60.9 billion, shy of the $60.96 billion analysts expected.
UnitedHealth Group Inc. provides health insurance for more than 49 million people. Its Optum segment also strays outside insurance, running a large pharmacy benefit management business and a growing number of clinics and urgent care and surgery centers.