New Delhi: UnitedHealth Group beat second-quarter expectations but remained cautious in its outlook for the year as it continued to bear the costs of a massive cyberattack on its Changing healthcare business.
He healthcare giant On Tuesday, it stuck to its adjusted earnings projections of $27.50 to $28.00 in 2024, the same outlook it issued in the fall.
Analysts expect earnings of $27.70 per share, according to FactSet.
UnitedHealth typically increases its Initial prognosis At least once so far this year, the company’s shares fell nearly 2 percent in morning trading.
UnitedHealth said the outlook included business interruption costs of between 60 cents and 70 cents per share tied to the February attack, which triggered a payment interruption and Claims processing Around the country.
In the second trimester, UnitedHealth Net Income The company’s shares fell 23 percent to $4.22 billion. The company reported adjusted earnings of $6.80 per share on revenue of $98.85 billion.
Analysts had expected earnings of $6.66 per share on $98.73 billion in revenue.
Change Healthcare, a subsidiary of UnitedHealth Group, provides technology used to submit and process billions of insurance claims a year. Hackers gained access to its system in February and unleashed a Ransomware attack which encrypted and froze large parts of it.
UnitedHealth said Tuesday it had restored most of the Change services affected by the attack. The total impact of the breach this quarter amounted to 92 cents per share.
UnitedHealth offers health insurance for more than 49 million people in the United States. Its Optum segment also provides health care, runs one of the nation’s largest pharmacy benefit management businesses, and offers technology services.
