UnitedHealth reports Q3 earnings and revenue above estimates; shares down

Investing.com -- UnitedHealth reported third-quarter earnings and revenue that exceeded analyst expectations.

The health insurer posted Q3 earnings per share (EPS) of $7.15, topping the consensus estimate of $7.02. Revenue came in at $100.82 billion, also above the estimated $99.14 billion.

The company’s shares fell around 2% in premarket trading Tuesday.

The UnitedHealthcare segment generated $74.9 billion in revenue, reflecting a 7.2% year-over-year increase, and exceeding the estimated $73.65 billion.

Meanwhile, Optum's revenue grew 13% year-over-year to $63.9 billion.

“Our continued growth, which positions us well for the coming years, is rooted in the innovative products and responsive service of our people that are embraced each day across the full range of health care participants,” said Andrew Witty, CEO of UnitedHealth Group (NYSE:UNH ).

UnitedHealth said its full-year adjusted net earnings outlook remains between $27.50 and $27.75, in line with the $27.50 to $28.00 range set nearly a year ago.

This guidance includes absorbing an estimated $0.75 per share in business disruption costs from Change Healthcare (NASDAQ:CHNG ) services, an increase of approximately $0.10 per share from last quarter’s estimate.

Source: Investing.com