UnitedHealth (UNH) gains after beating Q2 estimates

UnitedHealth (NYSE: UNH) reported earnings that beat the average analyst estimates for the company’s second fiscal quarter.

UNH shares are up 2.6% in pre-market Friday.

The company posted an adjusted EPS of $6.14, ahead of the consensus of $5.95. Revenue rose 16% year-over-year to $92.9 billion, topping the expected $90.93 billion. The operating cost ratio rose 30 basis points YoY to 14.9%.

The company’s OptumRX business saw its sales surge 15% YoY to $28.65 billion while the core segment – UnitedHealthcare – experienced a 13% YoY increase in revenue to $70.23B.

“Our diverse health care capabilities and dedicated colleagues are enabling us to meet the needs of more people in more ways, driving substantial growth and expanding our opportunities to serve well into the future,” said Andrew Witty, chief executive officer of UnitedHealth Group.

Following solid FQ2 numbers, the company strengthened the range of its full-year adjusted earnings outlook to $24.70 to $25.00 per share.

By Senad Karaahmetovic

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