WASHINGTON (AP) — UnitedHealth Group said Thursday that its second-quarter net income rose 5.5 percent, trumping Wall Street expectations, as enrollment gains helped fuel revenue growth and consumers continued to moderate their use of health care services.
UnitedHealth's enrollment grew about 4 percent to 35.9 million compared to last year's second quarter, led by gains in Medicare and Medicaid plans and commercial coverage, which includes employer-sponsored and individual plans. That contributed to an 8.3 percent jump in revenue to 27.3 billion.
The company raised its full-year earnings estimate to between $4.90 and $5.00 per share. That was up from a prior estimate of between $4.80 and $4.95. Analysts surveyed by FactSet expected earnings of $4.99 per share.
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