Investors Cheer UnitedHealth's Q1 Earnings Despite Cyberattack Fallout, Taking $872M Hit From Hack
Portfolio Pulse from Vandana Singh
UnitedHealth Group (NYSE:UNH) reported Q1 2024 earnings with better-than-expected revenue and adjusted EPS, despite taking a $872M hit from a cyberattack on its subsidiary Change Healthcare. Revenues increased to $99.8 billion, and adjusted EPS was $6.91. The company also incurred a $7 billion charge from selling its Brazil operations but saw growth in its Optum and UnitedHealthcare units. UNH shares rose 7.52% in premarket trading. The company expects a full-year 2024 impact from the cyberattack of $1.15 to $1.35 per share.
April 16, 2024 | 11:56 am
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UnitedHealth Group reported higher than expected Q1 2024 earnings and revenue, with shares rising 7.52% in premarket trading despite a significant cyberattack impact.
The positive earnings report and revenue growth, despite the cyberattack and Brazil operations sale, indicate strong operational performance and resilience. The premarket share price increase reflects investor confidence in the company's outlook and management of adverse events.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100