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The largest U.S. health insurer said revenue at its Optum business, which offers healthcare data analytics services, jumped about 14%.
The results come as U.S. health insurers wrestle with fluctuating medical costs since the coronavirus outbreak.
For the three months ended Sept. 30, UnitedHealth (NYSE:UNH) reported a medical loss ratio – the percentage of premiums paid for medical services – of 83.0%, worse than 81.9% a year earlier. Analysts were expecting 83.5%.
A jump in infections in the country in July and August due to the fast-spreading Delta variant prompted hospitals in some states to again postpone non-urgent medical procedures, while COVID-19 cases and hospital admissions declined https://covid.cdc.gov/covid-data-tracker/#new-hospital-admissions again September.
Excluding items, UnitedHealth reported earnings per share of $4.52, beating analysts’ estimate of $4.41, according to Refinitiv IBES data.
UnitedHealth raised its 2021 adjusted earnings per share forecast to $18.65 to $18.90, from $18.30 to $18.80 earlier.
The company’s shares rose 2% in premarket trading.
