UnitedHealth Rises On Upbeat Q2 Results

(RTTNews) - Shares of UnitedHealth Group Incorporated (UNH) are rising more than 7% Friday morning after reporting better-than-expected second-quarter results.

Net earnings in the second quarter increased to $5.474 billion or $5.82 per share from $5.070 billion or $5.34 per share in the same quarter a year ago.

Excluding one-time items, earnings were $5.772 billion or $6.14 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $5.99 per share.

Quarterly revenue increased 16% year-on-year to $92.9 billion. The consensus estimate was for $91.01 billion.

Looking forward, the company has raised the lower end of its full-year adjusted earnings outlook range based on first-half performance as well as growth expectations. The company now sees full-year adjusted earnings per share in the range of $24.70 - $25.00 compared with prior outlook of $24.50 - $25.00. Analysts expect earnings of $24.82 per share for the year.

UNH is at $479.11 currently. It has traded in the range of $445.68 - $558.10 in the last 1 year.