By Senad Karaahmetovic
Shares of UnitedHealth (NYSE:UNH) are moving higher in premarket Friday trading after the healthcare titan reported better-than-expected Q1 results.
UNH delivered an EPS of $6.26 on revenue of $91.9 billion, beating the consensus for earnings of $6.17 per share on revenue of $89.71B. Sales increased by 15% year-over-year, boosted by a 25% increase in Optum sales. The medical care ratio was 82.2%, missing the consensus by 20 basis points.
“Our strong, enterprise-wide growth this quarter is a direct result of our colleagues’ unwavering commitment to offering more health services to more people and connecting consumers with greater access to high-quality, affordable care,” said Andrew Witty, chief executive officer of UnitedHealth Group.
Given stronger-than-expected Q1 results, the company boosted its adjusted FY EPS forecast to $24.50-$25.00 from the prior range of $24.40-$24.90. Analysts were looking for $24.91.