UNH - Why UnitedHealth Group Stock Is Jumping Today
2024-04-16 11:27:28 ET
Shares of UnitedHealth Group (NYSE: UNH) were jumping 5.7% higher as of 11:17 a.m. ET on Tuesday after rising as much as 7.7% earlier in the day. The solid gain came after the giant healthcare company announced its 2024 first-quarter results before the market opened.
UnitedHealth Group reported Q1 revenue of $99.8 billion, up 8.6% year over year. This result topped the consensus Wall Street revenue estimate of nearly $99.3 billion.
The company posted a net loss of $1.22 billion, or $1.53 per share, in the first quarter based on generally accepted accounting principles (GAAP) . This loss reflected a steep decline from the profit of $5.8 billion, or $5.95 per share, reported in the prior-year period.
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Why UnitedHealth Group Stock Is Jumping Today