UnitedHealth beats Street 3Q forecasts

Markets Associated Press

FILE - This Tuesday, Oct. 16, 2012, file photo, shows a portion of the UnitedHealth Group Inc.'s campus in Minnetonka, Minn. UnitedHealth Group reports financial results Tuesday, Oct. 18, 2016. (AP Photo/Jim Mone, File) (The Associated Press)

UnitedHealth Group Inc. (UNH) on Tuesday reported third-quarter profit of $1.97 billion.

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The Minnetonka, Minnesota-based company said it had net income of $2.03 per share. Earnings, adjusted for one-time gains and costs, were $2.17 per share.

The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $2.08 per share.

The largest U.S. health insurer posted revenue of $46.29 billion in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $45.87 billion.

UnitedHealth expects full-year earnings to be $8 per share.

UnitedHealth shares have climbed 14 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 4 percent. The stock has climbed 12 percent in the last 12 months.

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

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Keywords: UnitedHealth Group, Earnings Report, Priority Earnings