UnitedHealth Beats Profit Estimates Despite Hack Impact
- Wall Street was bracing for hit from care, cyberattack costs
- Company says hack reduced adjusted profit by 25 cents a share
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UnitedHealth Group Inc. shares jumped after the company beat Wall Street’s profit expectations and affirmed its outlook for the year, despite the costs associated with a cyberattack on one of its subsidiaries that has roiled the health-care industry.
Adjusted earnings of $6.91 a share exceeded analysts’ average estimate of $6.59 a share, the health-care giant said in a statement Tuesday. UnitedHealth affirmed its outlook for adjusted net earnings of $27.50 to $28.00 a share in 2024. Revenue of $99.8 billion also topped analyst estimates.