UnitedHealth posts $3.5B profit in Q1

UnitedHealth Group recorded strong financial results in the first quarter of fiscal year 2019, ending the period with a $3.5 billion profit.

The company recorded revenues of $60.3 billion for the three months ended March 31, up 9.3 percent from $55.2 billion reported in the same period a year earlier. Revenue gains were led by growth across its UnitedHealthcare Medicare and Retirement, OptumRx, and OptumHealth lines.

The company's health insurance arm, UnitedHealthcare, added 880,000 members in the past year. This helped increase the unit's first-quarter revenues by $3.4 billion to $48.9 billion.

UnitedHealth's Optum unit continued to be a significant source of revenue growth for the company. Optum's revenue climbed by 11.7 percent year over year to $26.4 billion in the first quarter of this year, up from $23.6 billion recorded in the same quarter a year prior.

Overall, UnitedHealth saw its operating expenses increase year over year to $55.5 billion in the first quarter of this year, up 8.5 percent year over year from $51.1 billion.

UnitedHealth ended the first quarter with net earnings attributable to shareholders of $3.5 billion, up 22 percent from a profit of $2.8 billion reported in the first quarter of 2018.

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