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 story : UnitedHealth stock rises toward a record after profit and revenue beats, raised outlook #FinanceUSA #StockMarketNEWS Shares of UnitedHealth Group Inc. jumped 1.7% into record territory in premarket

@stockMarketNEWS Thu 15 Apr, 2021

Posted in: #FinanceUSA #StockMarketNEWS

UnitedHealth stock rises toward a record after profit and revenue beats, raised outlook #FinanceUSA #StockMarketNEWS
Shares of UnitedHealth Group Inc. jumped 1.7% into record territory in premarket trading Thursday, after the health care services company reported first-quarter profit and revenue that rose above expectations and raised its full-year outlook. "COVID-19 treatment and testing during the quarter was higher than expected, paired with higher elective care deferral patterns," the company said in a statement. Net income rose to .86 billion, or .08 a share, from .38 billion, or .52 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share grew to .31 from .72, beating the FactSet consensus of .39. Total revenue increased 9.0% to .20 billion, above the FactSet consensus of .02 billion, as premiums rose 9.6% to .49 billion to beat expectations of .57 billion. Revenue for the Optum business grew 10.8% to .4 billion. The company raised its 2021 adjusted EPS guidance range to .10 to .60 from .75 to .25. The stock, which is on track to open above the March 29 record close of 9.06, has advanced 7.1% year to date, while the Dow Jones Industrial Average has gained 9.8%.


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