Shares of UnitedHealth Group (NYSE: UNH) were jumping 5.7% higher as of 11:17 a.m. ET on Tuesday after rising as much as 7.7% earlier in the day. The solid gain came after the giant healthcare company announced its 2024 first-quarter results before the market opened.

UnitedHealth Group reported Q1 revenue of $99.8 billion, up 8.6% year over year. This result topped the consensus Wall Street revenue estimate of nearly $99.3 billion.

The company posted a net loss of $1.22 billion, or $1.53 per share, in the first quarter based on generally accepted accounting principles (GAAP). This loss reflected a steep decline from the profit of $5.8 billion, or $5.95 per share, reported in the prior-year period.

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Source Fool.com