The health insurer company announced its first quarter 2015 earnings of $1.41 billion and $35.76 billion in revenue
The state’s biggest health insurer, UnitedHealth Group has announced its January to March 2015 quarter results on April 16. The company was able to surpass analyst’s estimation with its quarter outcomes determined by increasing growth in its Medicare and Medicaid customer base and robust revenue from its subsidiary “Optum”.
UnitedHealth posted earnings of $1.41 billion in the quarter, or diluted earnings of $1.46 per share, which is more than$1.1 billion or $1.10 a share in similar quarter last year. Analysts surveyed by Thomas Reuters had forecasted earnings per share of $1.35.
Company was able to post $35.76 billion in revenue for the quarter, more than $31.71 billion of previous year quarter.
The revenue from Optum subsidiary increased by 15% to $12.8 billion for the 1QFY15. Optum consists of OptumCare, which is responsible to manage people’s health for 3rd party payers like employers, OptumInsight, which offers health care software and products; last OptumRx, which is pharma benefits subsidiary.
The health care company projected fiscal year 2015 revenue of around $143 billion, increased by $2 billion from its prior viewpoint, because of robust growth of the company in the quarter. UnitedHealth estimated earnings to be around $6.15 to $6.30 a share, which is also increased compare to previous projection of $6 to $6.25 a share.
UnitedHealth Care enhanced its customer base regarding health insurance from 44.67 million to 45.77 million as of 31st March. The company witnessed utmost growth, in programs funded by government, Medicare and Medicaid, and on percentage basis.
The joined customer base in Medicaid and Medicare, Medicare advantage, supplement plans rose to 12.18 million compared to previous year customer base of 10.9 million.
The commercial membership of the company, that consists of insurance sold to employees through their employers and TRICARE coverage for military retirees and their families funded by government, stood at 29.4 million till the end of March 31, compared to 29.1 million last year.
The health care company declared that it will be acquiring Catarman Corps, which is pharmacy Benefit Company for $12.8 billion.
UNH stock was 3.65% up yesterday to $121.60 after the announcement of 1QFY15 results.
UnitedHealth posted earnings of $1.41 billion in the quarter, or diluted earnings of $1.46 per share, which is more than$1.1 billion or $1.10 a share in similar quarter last year. Analysts surveyed by Thomas Reuters had forecasted earnings per share of $1.35.
Company was able to post $35.76 billion in revenue for the quarter, more than $31.71 billion of previous year quarter.
The revenue from Optum subsidiary increased by 15% to $12.8 billion for the 1QFY15. Optum consists of OptumCare, which is responsible to manage people’s health for 3rd party payers like employers, OptumInsight, which offers health care software and products; last OptumRx, which is pharma benefits subsidiary.
The health care company projected fiscal year 2015 revenue of around $143 billion, increased by $2 billion from its prior viewpoint, because of robust growth of the company in the quarter. UnitedHealth estimated earnings to be around $6.15 to $6.30 a share, which is also increased compare to previous projection of $6 to $6.25 a share.
UnitedHealth Care enhanced its customer base regarding health insurance from 44.67 million to 45.77 million as of 31st March. The company witnessed utmost growth, in programs funded by government, Medicare and Medicaid, and on percentage basis.
The joined customer base in Medicaid and Medicare, Medicare advantage, supplement plans rose to 12.18 million compared to previous year customer base of 10.9 million.
The commercial membership of the company, that consists of insurance sold to employees through their employers and TRICARE coverage for military retirees and their families funded by government, stood at 29.4 million till the end of March 31, compared to 29.1 million last year.
The health care company declared that it will be acquiring Catarman Corps, which is pharmacy Benefit Company for $12.8 billion.
UNH stock was 3.65% up yesterday to $121.60 after the announcement of 1QFY15 results.
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