Health insurance giant UnitedHealth Group (NYSE: UNH) on Thursday reported financial results for the first quarter of 2022. Earnings and revenues increased year-over-year and exceeded analysts’ estimates. The company also raised its full-year 2022 guidance.
At $80.1 billion, first-quarter revenues were up 14% year-over-year and above analysts’ estimates. The topline benefitted from strong growth across all the key business segments.
Net profit, adjusted for special items, increased to $5.49 per share in the first quarter from $5.31 per share in the corresponding period of last year. Unadjusted net income was $5.03 billion or $5.27 per share, compared to $4.86 billion or $5.08 per share last year.
Check this space to read management/analysts’ comments on UnitedHealth’s Q1 2022 earnings
“Disciplined execution of our long-term strategy, with a sharp focus on ensuring access to care for the people we serve enabled us to deliver high-quality, diversified growth across Optum and UnitedHealthcare during this first quarter of 2022,” said Andrew Witty, chief executive officer of UnitedHealth Group.