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The largest U.S. health insurer added 2.2 million people and its
Medicare Advantage plans, an important business for insurers
that service retirees, brought in $2.1 billion more in sales and
added 450,000 members from a year earlier.
The industry bellwether now expects adjusted earnings per share
of $12.50 to $12.75 in the year, compared with its previous
forecast of $12.40 to $12.65, a range that some analysts called
"conservative" in the face of strong performance in the sector.
The company's medical care ratio, or the percentage of premiums
paid out for medical services, improved to 81.9 percent in the
quarter, compared with 82.2 percent last year.
Revenue from the company's Optum unit, through which it acts as
an industry middleman in pharmacy benefits management, grew 9
percent to $24.73 billion.
UnitedHealth's net earnings attributable to shareholders rose
nearly 28 percent to $2.92 billion in the quarter ended June 30.
Excluding items, the company earned $3.14 per share, above the
average analyst estimate of $3.04, according to Thomson Reuters
I/B/E/S.
Total revenue rose 12 percent to $56.09 billion, in line with
analysts' estimates.
(Reporting by Tamara Mathias in Bengaluru; Editing by Arun
Koyyur and Maju Samuel)
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