UnitedHealth 1Q earns jump 30 per cent

MINNETONKA, Minn. — UnitedHealth Group is reporting first-quarter earnings of $2.84 billion, a jump of more than 30 per cent from last year, with broad growth for the nation’s largest health insurer.

Per-share net income reported Tuesday was $2.87, or $3.04 when adjusted for amortization costs, which is 12 cents better than expect on Wall Street, according to a poll by Zacks Investment Research.

Revenue of $55.19 billion also beat expectations easily.

UnitedHealth, based in The Minnetonka, Minnesota, expects full-year earnings between $12.40 and $12.65 per share.

Shares of UnitedHealth Group Inc. rose almost 3 per cent before the opening bell.

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Portions of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UNH at https://www.zacks.com/ap/UNH