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UnitedHealth Tops Consensus on Q3 Earnings, Raises 2018 Outlook

Published 10/16/2018, 06:00 AM
Updated 10/16/2018, 06:20 AM
© Reuters.  UnitedHealth reports Q3 EPS of $3.41 vs. forecast for $3.29

© Reuters. UnitedHealth reports Q3 EPS of $3.41 vs. forecast for $3.29

Investing.com - UnitedHealth (NYSE:UNH) reported third quarter earnings that beat analysts’ expectations on Tuesday and revenue that topped forecasts, while the company also raised its full-year outlook.

The company reported earnings per share of $3.41, an increase of 29% year-over-year. Revenue came in at $56.56 billion, up 12% on a year-over-year basis. Analysts polled by Investing.com forecast EPS of $3.29 on revenue of $56.36 billion.

The company also raised its outlook for 2018 net earnings per share to now approach $12.10, from the prior range of $11.80 to $12.05 and lifted its estimate for adjusted net earnings per share to now approach $12.80, from the prior range of $12.50 to $12.75.

“These results reflect our businesses delivering increased value at an accelerating pace to society and the millions of people we serve – one person at a time,” said David S. Wichmann, chief executive officer of UnitedHealth Group.

At 6:19 AM ET (10:19 GMT), UnitedHealth stock gained 1.06% to $263.00 in pre-market trade on Tuesday. For the year, shares are up 17.75% as of Monday's close, outperforming the S&P 500 which is up 2.5% year to date.

UnitedHealth follows other major Financial sector earnings this month

On Friday, JPMorgan (NYSE:JPM) reported third quarter EPS of $2.34 on revenue of $27.82B, compared to forecasts of EPS of $2.26 on revenue of $27.44B.

Bank of America (NYSE:BAC) earnings beat analyst's expectations on Monday, with third quarter EPS of $0.66 on revenue of $22.78B. Investing.com analysts expected EPS of $0.62 on revenue of $22.62B

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

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