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UnitedHealth Group beat Wall Street’s first-quarter expectations and raised its forecast for 2022, as growing Medicare Advantage coverage and nursing services boosted the healthcare giant again.
The largest U.S. health insurance provider reported adjusted earnings of $5.49 a share on Thursday, with total revenue rising more than 14% to $80.1 billion in the quarter.
Analysts on average expected second-quarter revenue of $78.73 billion and earnings per share of $5.36, according to FactSet.
In addition to providing insurance, UnitedHealth operates the Optum division, which provides care and administers pharmacy benefits to millions of people. The segment’s operating income rose nearly 20%.
For the full year, UnitedHealth now expects adjusted EPS of $21.20 to $21.70.
Analysts expected earnings per share of $21.61 on revenue of $318.87 billion.
Shares of Minnetonka, Minn.-based UnitedHealth Group Inc. climbed in early trade.
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