MINNETONKA, Minn. – UnitedHealth is sticking to its profit outlook for the year and says it won't be seeking any federal assistance to make it through the coronavirus outbreak that has hobbled much of the economy.
The largest U.S. health insurer reported first-quarter net income of $3.38 billion, or $3.52 per share. Adjusted per share earnings were $3.72, easily beating Wall Street projections for $3.64, according to a survey of industry analysts by Zacks Investment Research.
Revenue was $64.42. UnitedHealth maintained per-share profit expectations for the year of between $16.25 and $16.55. Shares of UnitedHealth Group Inc., based in Minnetonka, Minnesota, are up almost 3% before the opening bell Wednesday.