UnitedHealth Group’s stock price jumped Friday after the health-care conglomerate reported second-quarter revenue and adjusted earnings that topped Wall Street’s expectations despite rising medical costs.
The results eased investor concerns after the Minnesota-based company flagged a surge in demand for non-urgent surgeries and outpatient services last month and spooked the market.
Shares of UnitedHealth closed up more than 7% Friday. The stock is down more than 9% so far this year, however.
UnitedHealth Group is the biggest health-care company in the U.S. by market cap and revenue, and is even bigger than the nation’s largest banks. Given its size, UnitedHealth Group is considered a bellwether for the broader health insurance sector. Its market value was around $447 billion as of Friday’s close.
Here’s what UnitedHealth Group reported compared with Wall Street’s expectations, based on a survey of analysts by Refinitiv:
Earnings per share: $6.14 adjusted vs. $5.99 expected Revenue:…
2023-07-14 15:14:37
Source from www.cnbc.com
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