(Bloomberg) — UnitedHealth Group Inc., the biggest health insurer by sales, beat analyst earnings estimates as revenue grew from its technology and consulting unit that helped fix the Patient Protection and Affordable Care Act insurance website.
Net income was $1.41 billion, or $1.42 a share, down from $1.44 billion, or $1.40 a share, a year earlier, the Minnetonka, Minnesota-based company said today in a statement. Earnings per share beat by 16 cents the $1.26 per share average estimate of 22 analysts combined by Bloomberg.
Revenue rose 7 percent to $32.6 billion, led by an increase in customers in Medicaid, the administrator of U.S. health benefits for the poor, and a 28 percent boost in sales for the company's technology, consulting and prescription drugs unit, known as Optum. UnitedHealth is the first of the large health insurers to report second-quarter results.
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