UnitedHealth Group Inc. (UNH), the biggest U.S. health insurer, reported third-quarter sales below analysts’ expectations while declining to raise its profit projections, driving shares down the most in two years.
Net income rose less than 1 percent to $1.57 billion from a year earlier and the Minnetonka, Minnesota-based insurer reported per-share earnings of $1.53, matching the average of 18 analysts’ estimates compiled by Bloomberg. Revenue climbed 12 percent to $30.6 billion, UnitedHealth said in a statement today. Analysts had estimated $30.9 billion, on average.
Enlarge image UnitedHealth Slips
UnitedHealth exceeded analyst expectations in all but one quarter over the last four years, helped by rising enrollment and medical costs that have remained low since the recession ended in 2009. read more.
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