Profit jumped by 28 percent at UnitedHealth Group during the second quarter as the nation's largest health insurer topped earnings estimates and once again boosted financial guidance for the year.
The Minnetonka, Minn.-based health care giant posted earnings of $2.92 billion on $56.1 billion in revenue, which was about 12 percent ahead of revenue during the year-ago quarter.
Adjusted earnings per share of $3.14 exceeded by a dime the $3.04 per share expected among analysts surveyed by Thomson Reuters. It was the sixteenth consecutive earnings beat.
After posting first quarter results that beat analyst expectations, UnitedHealth Group upped its financial guidance to adjusted net earnings of $12.40 to $12.65 per share. On Tuesday, UnitedHealth Group said it now expects adjusted net earnings to a range of $12.50 to $12.75 per share.
At the end of last year, UnitedHealth Group employed about 260,000 people worldwide.
