UnitedHealth second-quarter revenues reach $56B

UnitedHealth Group reported double-digit increases in revenues and profits in the second quarter of 2018.

Revenue surpassed $56 billion in the second quarter of 2018, a 12% year-over-year increase that fell in line with Wall Street's expectations. Net profits hit $3 billion, up from $2.3 billion during the same quarter last year.

Revenues reached $111.2 billion for the first half of the year, with net earnings of $5.9 billion.

UnitedHealthcare, the company's insurance arm, reported $45.8 billion in revenues, up $5 billion from the same quarter last year. The insurer added 2.2 million members over the last year, including nearly 1 million members in Medicare Advantage, Medicaid and Medicare plans.

Optum, the company's data analytics business, grew year-over-year revenues by 9%, reaching $24.7 billion in the second quarter. Revenues from UnitedHealth's PBM, OptumRx, grew $1.1 billion, reaching $16.9 billion.

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UnitedHealth raised its 2018 outlook for adjusted net earnings to a range of $12.50 to $12.75.

"Today, UnitedHealth Group delivers increasing value to more people, driven by strong execution, consistently high quality, deep relationships and our distinctive combination of clinical, technology and information capabilities," UnitedHealth Group CEO David S. Wichmann said in a statement. "As we look ahead, we will drive our growth on the strength of practical innovations that anticipate and respond to increasing consumer expectations and clear social needs."