UNH Stock is up in trading at $519.20 as of 10:46 AM EDT.
After Q3 results beat expectations and the firm boosted its FY22 projection, UNH Stock ( NYSE:UNH ) is trading higher in the premarket on October 14. Total revenue increased by 11.83% year on year to $80.89 billion in the third quarter, led by Optum and UnitedHealthcare .
Adjusted EPS increased +28.1% year-on-year to $5.79. The $5.55 GAAP EPS was up 29.67%. The medical care ratio decreased from 83.0% in Q3 2021 to 81.6% in Q3 2018, according to the corporation, as a result of COVID effects and business mix.
In Q3, UnitedHealthcare’s revenue grew by 11% year-over-year to $62 billion. The company offers health insurance to individuals, businesses, and people on Medicare and Medicaid. According to the company, UnitedHealthcare’s operating earnings went from $2.7 billion in Q3 2021 to $3.8 billion in Q3 2022 because the number of people served grew, COVID effects happened, and medical and operating costs were managed.
According to UNH, UnitedHealthcare served 850,000 more people domestically in 2022, including 185K in Q3. Optum, which offers services to the international healthcare sector, saw a +17% year-over-year growth in revenue to $46.6 billion in Q3, while operating profit rose by +19.35% to $3.7 billion. UNH says that Optum Health’s revenue per customer served went up 31% from the previous year. This was due to the growth of value-based care agreements and platforms for care delivery, such ...
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