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7/15, 11:59 AM (Source: TeleTrader)
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UnitedHealth's revenue up 2.5% to $62.1B in Q2

UnitedHealth Group's revenue for the second fiscal quarter landed at $62.1 billion, climbing 2.5% or by $1.5 billion on an annual basis, the company announced on Wednesday. The Minnesota-based firm's net earnings per share amounted to $6.91 while adjusted earnings per share were at $7.12, topping market expectations.

Earnings from operations jumped $4.5 billion to $9.2 billion in the second trimester, marking a growth of 96% compared to the same period last year. Meanwhile, the operating cost ratio was at 16.1% in the second quarter, going up from 13.9% recorded in the same trimester last year due to the health insurance tax, COVID-19 response efforts and business mix, the company said.

"We moved swiftly to assist the people we serve and their care providers, including the provision of $3.5 billion in proactive voluntary customer assistance and accelerated care provider funding. We remain committed to taking further actions to address any future imbalances as a result of the pandemic," UnitedHealth Group CEO David Wichmann said in a statement.

Breaking the News / GA