Why UnitedHealth Group Is Trading Higher Today
UnitedHealth Group (NYSE: UNH) beat analyst expectations for second-quarter results and raised its outlook for the full year. The healthcare and insurance company's stock got a healthy boost as a result, climbing more than 5% in Friday trading.
Before markets opened, UnitedHealth reported second-quarter adjusted earnings of $5.57 per share on revenue of $80.33 billion, surpassing the consensus estimate for a $5.57 per share profit on sales of $79.68 billion. The company attributed the beat to lower pandemic-related costs and a slow recovery in non-urgent medical procedures, which combined to put a curb on medical expenses.
Health insurers have had to juggle their businesses during the pandemic, which has caused higher treatment expenses but has lowered spending on non-essential medical procedures. As pandemic-care costs have decreased, the insurance business has grown more profitable.
Source Fool.com
