UnitedHealth Group Inc (NYSE:UNH) saw its stock take off today following the release of its earnings report for the third quarter of 2017.
During the third quarter of the year, UnitedHealth Group Inc reported earnings per share of $2.66. This is a 23% increase over its earnings per share of $2.17 from the same time last year. The company’s earnings per share was good news for UNH stock by beating out Wall Street’s estimate of $2.56 for the quarter.
Revenue reported by UnitedHealth Group Inc in the third quarter of 2017 was $50.32 billion. This is up from its revenue of $46.29 billion that was reported in the third quarter of 2016. However, it does come in slightly below analysts’ earnings estimate of $50.35 for the third quarter of the year.
UnitedHealth Group Inc notes that its net margin for the third quarter of 2017 was 4.9%. GS’ net margin from the same period of the year prior was 4.3%. It also saw strong revenue growth from its Optum business, as well as UnitedHealthcare’s Medicare & Retirement division.
Net earnings reported by UnitedHealth Group Inc in the third quarter of the year was $2.56 billion. This is better than its net earnings of $1.98 billion that was reported in the same period of the previous year.
UnitedHealth Group Inc also updated its guidance for the full year of 2017 in its most recent earnings report. The company say that it now expects earnings per share for the year to approach $10.00. Wall Street is looking for UNH to report earnings per share of $9.87 in 2017.
UNH stock was up 5% as of noon Tuesday and is up 26% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
