Insurer UnitedHealth Group Inc. reported a 23 percent rise in third-quarter earnings as enrollment in its health plans increased and its technology and service business grew.
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The company, the largest U.S. health insurer, said on Tuesday that net income had risen to $1.56 billion, or $1.50 per share, from $1.27 billion, or $1.17 per share, a year earlier.
Revenue increased 8 percent to $27.3 billion as the company enrolled an additional 670,000 people in its health plans. UnitedHealth said Medicaid and Medicare business had helped increase revenue.
The company raised its expectations for full-year earnings to a range of $5.20 to $5.25 per share.
The third-quarter results were a bit higher than the forecast that the company had given earlier this month. On Oct. 8, UnitedHealth said it had expected earnings of at least $1.45 per share for the quarter and that more than 650,000 additional people had enrolled in plans during the period.