UnitedHealth reports 22.2 percent rise in quarterly profit

UnitedHealth reports 22.2 percent rise in quarterly profit

FILE PHOTO: Traders work at the post where UnitedHealth Group is traded on the floor of the New York Stock Exchange (NYSE) in New York, U.S., January 31, 2018. REUTERS/Brendan McDermid/File Photo

(Reuters) – U.S. health insurer UnitedHealth Group Inc on Tuesday reported a 22.2 percent rise in first-quarter profit, driven by strength in its main insurance business and Optum unit, which includes its pharmacy benefit management business.

Net earnings attributable to shareholders rose to $3.47 billion, or $3.56 per share, in the first quarter ended March 31, from $2.84 billion, or $2.87 per share, a year earlier.

Total revenue rose to $60.31 billion from $55.19 billion.

Reporting by Tamara Mathias and Manojna Maddipatla in Bengaluru; Editing by Shounak Dasgupta

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