UnitedHealth Delivers Q3 Earnings Beat, Issues Marginal Raise In Annual Profit Outlook
Portfolio Pulse from Vandana Singh
UnitedHealth Group Inc reported Q3 profits of nearly $5.8 billion, up 11% Y/Y, and revenues of $92.4 billion, up 14.2% Y/Y, beating analysts' estimates. The company's medical cost ratio was 82.3%, 70 basis points higher than last year. Premiums were up 12.2% to $72.3 billion, and operating costs rose 12.6% to $83.84 billion. The company raised its 2023 earnings forecast to $24.85-$25.00 per share, up from its prior forecast of $24.70-$25.00. UNH shares are up 1.61% at $533.99 during premarket trading.
October 13, 2023 | 11:35 am
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POSITIVE IMPACT
UnitedHealth reported strong Q3 results, beating estimates, and raised its 2023 earnings forecast. This positive news has already resulted in a 1.61% increase in the company's share price in premarket trading.
UnitedHealth's strong Q3 results and raised earnings forecast for 2023 indicate a positive outlook for the company. This has already resulted in an increase in the company's share price, suggesting that investors have responded positively to the news. Therefore, it is likely that the company's stock price will continue to rise in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100