MINNEAPOLIS (AP) — UnitedHealth Group’s net income jumped 16% in the fourth quarter as the nation’s biggest health insurer ended 2019 by topping Wall Street’s earnings expectations again.
But the Minnetonka, Minnesota, company missed forecasts for revenue, but on Wednesday reaffirmed profit expectations for 2020, first laid out last month, for adjusted earnings of between $16.25 and $16.55 per share.
Analysts expect per-share profits of $16.46 this year, according to FactSet.
UnitedHealth earned $3.54 billion in the quarter, with adjusted results totaling $3.90 per share. Analysts expected $3.78 per share, according to FactSet.
Revenue climbed 4 percent to $60.9 billion, shy of the $60.96 billion analysts expected.
UnitedHealth’s Optum segment runs a large pharmacy benefit management business and a growing number of clinics and urgent care and surgery centers.
(© Copyright 2020 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)