UnitedHealth Defies Coronavirus, Keeps Outlook Unchanged
The coronavirus pandemic has changed the healthcare landscape across the globe, and UnitedHealth Group (NYSE: UNH) has found itself at the center of the crisis. The health insurance and services giant is working to help those who've contracted COVID-19, supporting the efforts of medical professionals and other care providers and community leaders.
Coming into Tuesday's first-quarter financial report, UnitedHealth investors hoped that the company would be able to weather the financial impacts of the coronavirus pandemic while still doing what it takes to play its role in helping contain the outbreak. UnitedHealth's financial results were solid, and its decision not to withdraw guidance for 2020 and to reaffirm its previous estimates buoyed confidence among shareholders in a much-needed way.
UnitedHealth's first-quarter results showed how it has tried to balance the needs of all of its stakeholders. Revenue climbed almost 7% to $64.4 billion, which matched up well with what those following the stock had anticipated. Net income attributable to shareholders fell 2.5% to $3.38 billion, but a decline in shares outstanding limited the year-over-year decline in adjusted quarterly earnings to $3.72 per share. That was down just $0.01 from year-ago levels and $0.10 better than the consensus forecast among investors.
Source Fool.com
