Fierce Healthcare April 16, 2024
UnitedHealth Group released its first-quarter earnings Tuesday morning as the industry continues to reel from the massive cyberattack on its Change Healthcare unit.
UHG reported a loss of $1.4 billion in the quarter, compared to $5.6 billion in profit for the first quarter of 2023. Revenues reached $99.8 billion, up from $91.9 billion in the prior-year quarter. The hack was a major factor in the company’s performance, along with the sale of its Brazil-based business Amil, which drove $7 billion charge in the quarter.
After adjustments for one-time costs and gains, the company posted $6.91 in earnings per share. Both figures surpassed Wall Street’s expectations, according to analysts at Zacks Investment Research.
The company was trading up at market...
Today's Sponsors
Today's Sponsor